PSNY Stock Alert: Polestar Announces 125% Sales Increase So Far in 2022

  • Polestar Automotive (PSNY) is getting a boost on 2022 performance.
  • It’s seen deliveries increase 125% so far in 2022.
  • The company plans to hit 50,000 deliveries by the end of the year.
PSNY Stock - PSNY Stock Alert: Polestar Announces 125% Sales Increase So Far in 2022

Source: Robert Way /

Polestar Automotive (NASDAQ:PSNY) stock is rising higher on Wednesday following an update on the company’s performance in 2022.

According to a company press release, Polestar Automotive has seen electric vehicle (EV) deliveries for the first half of 2022 increase nearly 125% compared to the same time last year. This saw it deliver 21,200 cars during that time, as compared to 9,510 cars in the first half of 2021.

Polestar Automotive also notes that global orders taken since the start of the year have reached 50,000 units. That’s a 350% increase year-over-year. It also has the company reaffirming its outlook of 50,000 EV deliveries for the full year of 2022.

It’s worth mentioning that this increase in orders and deliveries comes as the company expands to new areas. During the first half of the year, it increased the markets it operates in from 19 to 25.  It also increased retail locations from 103 to 125 and plans for 30 more to open by the end of 2022.

Thomas Ingenlath, CEO of Polestar Automotive, said the following in the news release:

It is great to see that the number of enthusiastic Polestar 2 customers is growing so quickly. I am very confident that the strong momentum we have seen this year in brand awareness and sales figures will accelerate powerfully in the coming years as more ground-breaking cars are revealed.

PSNY stock is up 2.7% as of Wednesday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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