Sweden's Polestar Q1 revenue flat on pricing pressure

Polestar Automotive Holding Uk

07/05/2026 12:12

Overview

Sweden electric vehicle maker's Q1 retail sales rose 7% yr/yr to 13,126 cars

Q1 revenue was flat, up 0.2% yr/yr, as higher volumes offset by pricing pressure

Gross margin turned negative and net loss widened due to competition, tariffs, FX and seasonality

Outlook

Polestar plans to reach 250 sales points globally by end 2026

Company expects deliveries of new Polestar 4 variant to start in late 2026

Polestar says intensified competition, tariffs and FX will impact performance

Result Drivers

PRICING PRESSURE & PRODUCT MIX - Revenue growth from higher volumes was offset mainly by significant pressure on pricing, a product mix with fewer Polestar 3 and more Polestar 4 vehicles, and lower carbon credits sales

NEGATIVE GROSS MARGIN - Gross margin turned negative due mainly to further pressure on pricing, EU and US tariffs, lower carbon credits sales and one-off impacts, partially offset by growth in volumes, a higher share of Polestar 4 and continued product cost reduction

FOREIGN EXCHANGE & TARIFFS - Net loss widened, driven by gross loss result and mainly the negative foreign exchange impact related to Chinese yuan movements on operating and financing liabilities, as well as intensified competition and tariffs

Company press release: ID:nBw6bHn8Fa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$383 mln
Q1 Adjusted EBITDA
-$235 mln
Q1 Gross Margin
-3.20%


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)