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Polestar EV sales jump in Q1 on discounts like its ‘Tesla conquest’ bonus
Swedish electric vehicle maker Polestar saw its first-quarter sales jump 76% compared to the same period in 2024 after it began offering discounts and
Swedish electric vehicle maker Polestar saw its first-quarter sales jump 76% compared to the same period in 2024 after it began offering discounts and other promotions, including ones geared towards locking in Tesla owners. It won’t be clear for a few months how the discounts have affected Polestar’s margins; the automaker said in February that it would its full-year and Q4 2024 earnings until the end of April after it secured a $450 million loan to keep the company afloat as it burned through cash. The durability of Polestar’s discounts is unclear as the fallout from President Donald Trump’s sweeping tariffs and ensuing trade war could drive up car prices.
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