Polestar has seen a bit of a sales slide in Australia during 2024, but the brand’s local boss is expecting next year to exceed even internal expectations.
Speaking with CarExpert, Polestar Cars Australia managing director Scott Maynard said he reckons the brand’s fortunes will change in 2025 now that it has a fuller product portfolio online.
“We’ve certainly got internal targets [for 2025], but I personally think that we’re probably going to do a little bit better than what we’re internally projecting,” Mr Maynard said.
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Polestar 4
“I think a lot of that comes down to expectation of the market, and so many people have found it really difficult to forecast what EVs will do – it was forecasted to be 100 per cent of what we drive within five years, and those expectations are obviously cooling pretty quickly, and I don’t think they were ever right.
“Electric vehicles will continue to work their way and find a level. There will be little spurts of growth, then it will calm and do its thing to coincide with the launch of product.
“We also know there are a lot of new brands on their way in, so there’ll be plenty of entrants and spur some interests in EV which I think is a good thing.
“Polestar plays in a different pool – working on that $70,000+ bracket… there’s going to be an enormous amount of activity in that sub-$70K spot, where everyone is clambering to get volume, share, and build the cheapest EV – we’re not there,” Mr Maynard continued.
“The EV space we’re playing in is a quieter space, it’s a premium spot, and we’re really confident that as more and more buyers switch to EV – customers that have traditionally bought premium ICE-powered vehicles [who] want a sustainable alternative to that – we’ll continue to see growth in our brand, and we’re pretty excited about that.”
After relying on a single model for a number of years, Polestar has effectively tripled its model count in 2024, and will continue to expand its lineup in 2025 and 2026.
The Polestar 3 and 4 are now arriving in Australia, playing in the premium large and medium SUV segments respectively, bolstering the existing Polestar 2 which competes in the premium mid-sized passenger car segment against the likes of the Tesla Model 3.
To the end of October, Polestar has registered 1460 new vehicles in Australia this year, down 21.63 per cent on the January-October period in 2023.
The Polestar 2 leads the stable tally with 1379 units (down 25.98 per cent), followed by the newly released Polestar 3 (56 units) and Polestar 4 (25 units).
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