Polestar 3 and 4 sales on track

POLESTAR recently launched its Polestar 3 and Polestar 4 into the local market, introducing for the first time vehicles perhaps better suited to Australian buyer tastes (i.e., SUVs).

Having established a foothold with the Polestar 2, the larger, family-sized 3 and 4 were expected to grow sales for the all-electric marque, a point we were keen on revisiting now the models have had time to find their feet.

Speaking with GoAuto this week, Polestar Australia managing director Scott Maynard said that while both SUV models were living up to expectations, the coupe-styled Polestar 4 had taken a modest lead, proving highly desirable with local Polestar customers.

“While it is still early days, we are pleased to report that there is very strong interest in both the 3 and 4,” he said.

“The 4 in particular seems to have stepped out from behind the 3 and become the major order taker right across the range. It has already surpassed orders on the 2 – it is absolutely performing.”

Mr Maynard said he believed the shift to a retail sales model had helped drive sales of the 3 and 4, noting particular interest in higher specification variants.

“There are a couple of things colouring our sales results. The transfer across to a new retailer platform is assisting in yielding results, and we’ve also got some campaigns in the market that I think are assisting as well,” he explained.

“We’re still quite happy with sales of the Polestar 2. In fact, there’s a healthy spread right across the range.

“In terms of variant preference, it’s almost split right down the middle. Uptake on Performance variants is slightly less than half, especially with Polestar 4, while the 3 is a little more varied, with customers selecting different packages to suit their own unique needs.

“The good news is that suits us very well, and we can comfortably accommodate that (order variance) with the stock that we have. It’s working out well.”

At the other end of the scale, Mr Maynard indicated lower-grade and rear-wheel drive variants were finding favour with fleet and novated lease channels. He said deliveries of such models may take longer to satisfy, with on-grass stock favouring higher trim grades.

“Most of the stock we’ve got on the ground is all-wheel drive, so we’ve been trying to focus our marketing material around that,” he stated.

“We haven’t really pushed the two-wheel drive variants as hard yet, though there has been a fair bit of pick-up on both models through the novated lease channel and fleet channel.

“Those deliveries will take a little bit of time – you won’t see them in the next set of delivery figures – it’s going to take a longer for those to show in our handover numbers.”

When asked whether sales of Polestar 2, 3, and 4 would be sufficient to grow the Polestar brand ahead of the Small segment Polestar 7, Mr Maynard said he was confident that interest would continue into the 2025-26 period, suggesting the technology, driving dynamics, and packaging of the ‘7’ would be well worth the wait.

“Given the pick-up we’re seeing in the 4 and also in the 3, I think we will sustain interest in the business until we can land the Polestar 7,” he enthused.

“The Polestar 7 does give us a unique opportunity, and we’re very excited that it’s coming. We’re also very impressed by how quickly the business has responded to the need for that car – as it wasn’t even being talked about a couple of months ago.

“I think that shows how responsive Polestar can be, but of course we need to get it to market first.

“In the interim, the 3 and 4 will definitely help bolster our sales, and provide that degree of exclusivity that a luxury brand like Polestar needs to maintain.”

Mr Maynard said he wasn’t concerned that a growing number of entrants in the space – particularly those from China – would detract from the interest the ‘7 will garner, believing the unique selling points of the Polestar range will attract a specific kind of buyer.

“We are happy to ride-out the process. The market will still be there. It’s not going away; and the development of a vehicle as important as the Polestar 7 cannot be rushed,” he emphasised.

“This car will be designed and engineered in Sweden and developed through our R&D centres in the UK and Sweden, through a thorough process that takes time. It takes time to produce a quality car – and that’s what the Polestar 7 will be.

“I am very confident that the market will be there when we’ve got the car ready, and I’m very sure the current Polestar range can do everything we need it to do until then.

“Yes, there is a lot of competition on the horizon, and that is going to make for a very exciting 2025 and ’26 for sure. But a lot of that competition sits in a market segment below where the Polestar 7 will sit.

“We are still playing in the premium set, which behaves quite differently to the mass market.

“The premium market is less cluttered than where many of those entrants are pushing toward, so I think that there is a unique opportunity for the Polestar brand to stand tall –and we’ll absolutely be there when we’ve got this car ready to go.”

2024 Polestar sales by model*:

*Sales data supplied by Electric Vehicle Council.