Swedish Electric Car Brand Polestar Records 50% Growth In Q3 Deliveries; Foresees Higher Margins
Portfolio Pulse from Lekha Gupta
Swedish electric car brand Polestar Automotive Holding UK (NASDAQ:PSNY) reported a 50% Y/Y growth in Q3 deliveries to about 13,900 vehicles, largely due to increased sales of the higher-priced, upgraded Polestar 2. The company expects to deliver 60,000-70,000 vehicles in 2023 and anticipates higher margins for the rest of the year. Polestar plans to report Q3 FY23 results on November 8, 2023.
October 05, 2023 | 12:27 pm
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Polestar reported a 50% Y/Y growth in Q3 deliveries, largely due to increased sales of the higher-priced Polestar 2. The company expects higher margins for the rest of the year and plans to deliver 60,000-70,000 vehicles in 2023.
The reported 50% Y/Y growth in Q3 deliveries and the expectation of higher margins for the rest of the year are positive indicators for Polestar. The company's stock price is likely to be positively impacted in the short term.
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