Polestar Australia experienced a 30% decline in sales in 2024, despite introducing two new models, the Polestar 3 and Polestar 4. The drop in sales is attributed to the anticipation surrounding the new models and the shift in consumer interest. Managing director Scott Maynard remains optimistic about the brand's future, highlighting the potential of the Polestar 4 in the mid-sized SUV market.
2024 wasn't a particularly successful year for Polestar in the Australian market. Despite introducing two new models , the Polestar 3 and Polestar 4 large and mid-sized SUV s respectively, the brand experienced a 30% decline in sales compared to 2023. Polestar delivered 1713 vehicles in 2024, down from 2457 in 2023 and only slightly higher than the 1524 delivered in 2022, its debut year.
The Polestar 2, the brand's existing liftback model, continued to be the most popular choice, selling 1459 units, but this represented a more than 40% drop from the previous year. This decline pushed the Polestar 2 out of the top 10 best-selling electric vehicles (EVs) and behind more expensive competitors like the BMW i4 and the Tesla Model 3. However, Polestar's newly appointed managing director, Scott Maynard, remains optimistic about the brand's future prospects in Australia. He attributes the sales dip to the anticipated shift in consumer interest towards the new Polestar 3 and 4 models. Maynard believes that the Polestar 4, particularly, will capture a significant share of the lucrative mid-sized SUV market. While Polestar is committed to remaining competitive, Maynard emphasizes that the company prefers to focus on adding value rather than resorting to price cuts. He acknowledges that the brand will monitor the competitive landscape and adjust prices if necessary, but their primary strategy is to enhance the product offerings and maintain a premium positioning. The Polestar 3, launched in September, is also expected to attract more buyers with the introduction of a new base variant, which will be significantly more affordable than the current entry-level model.
POLESTAR AUSTRALIA SALES NEW MODELS SUV ELECTRIC VEHICLES COMPETITION PRICE CUTS
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