Sweden’s Polestar reported a 4% fall in quarterly sales volumes on Thursday, weeks after the EV maker was handed a U.S. market ban starting in the 2027 model year, adding to its ongoing struggles to turn a profit.
US Market Ban
The U.S. Commerce Department in June denied Polestar authorization under the Connected Vehicles Rule, which restricts cars with connected-vehicle technology tied to China. The decision bars the EV maker, majority-owned by China’s Geely Holding, from the U.S. market from the 2027 model year.
Polestar said it will continue to sell off its existing Polestar 3 and Polestar 4 inventory in the U.S., maintain access to its service network and continue selling second-hand cars. The ban raises questions about the future production of the Polestar 3, its only U.S.-manufactured model.
Second-quarter sales fell to 17,296 cars, compared with 18,026 vehicles sold in the same period last year. Earlier in the day, Porsche – a key rival with its Macan and Taycan models – reported a first-half delivery decline, citing market pressure in China and the expiration of U.S. tax credits for EVs.
Amid tariff pressures, Polestar has opted to refresh aging models rather than launch entirely new ones. The company in February announced refreshed versions of its best-selling Polestar 2 and Polestar 4 models over the next year.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
