Polestar registered 7,008 automobiles in Germany in 2022, representing a 166.4 percent growth over the previous year. In its annual balancing, Polestar was named the fastest-growing brand on the German market by the Federal Motor Transport Authority (KBA).
No other manufacturer increased its sales as much as the Swedish electronics company did the previous year. The company has successfully established itself in this country since its market launch in the summer of 2020. Over 10,000 Polestar 2 electric vehicles are already on German roads.
This increase was fueled by high demand in both the end-user and fleet sectors as more businesses, and private customers migrated to all-electric vehicles. In total, Germany's proportion of electric vehicles (BEV) increased by 32.2 percent to 470,559 vehicles. The category now represents 17.7% of the overall market volume.
Polestar is likewise expanding swiftly on a global scale, and it just announced that it had met its 2022 global sales objective. The early projection for the entire year is 51,500 automobiles supplied globally, an increase of 80% year on year.
"I'm happy about the multiple accomplishments we've reached in 2022 and especially the outstanding team effort to close out our strongest quarter to date - we surpassed our annual objective of 50,000 units worldwide. We are now completely focused on 2023. There will be quarterly swings, but I am optimistic that we will continue to secure our supply chain to fulfill the growing demand for the Polestar 2 to begin the first deliveries of the Polestar 3 and launch the Polestar 4," said Polestar CEO Thomas Ingenlath.
Despite the automobile industry's challenging circumstances, the brand, which is still young, established delivery records in Germany and globally, particularly in the fourth quarter of 2022. Polestar also benefited from the vehicles' short-term availability - the Polestar 2 is still available within six to seven months.
Polestar is gaining momentum in Germany through its direct sales business strategy and is currently one of the brand's largest markets worldwide. "I am overjoyed that we have attained this milestone so soon following the launch of Polestar 2 in 2020," said Willem Baudewijns, Polestar Germany's Managing Director.
In addition, the corporation has aggressive expansion ambitions through 2023. Following the opening of nine Polestar Spaces in central locations across Germany, the focus this year is on expanding the so-called Handover Centers, where customers can configure and order their products online in advance in a high-quality and minimalistic Scandinavian environment Get Polestar. Similar locations were already in place in Düsseldorf, Hamburg, Karlsruhe, and Cologne by 2022. More handover centers will open in Munich at the start of the year, followed by Frankfurt and Berlin later in the year. Polestar is responding to market conditions by expanding its network and adding capacity to increase deliveries in the following years.
At the same time, Polestar is constantly growing its team. Polestar's German headquarters, located at Cologne's Media Park, now employs approximately 75 people.
With the global debut of the Polestar 3 electric SUV, which has been available for order since October 2022, Polestar will enter the SUV market, one of the fastest expanding and highest-margin areas in the automotive industry.
Polestar forecasts global sales to climb by about 60% to around 80,000 vehicles in 2023, led by strong Polestar 2 sales and the first deliveries of Polestar 3 later in the year.