Polestar recorded a wider first quarter loss in 2026, with tariffs, pricing pressure and currency movements dragging margins into negative territory despite the electric vehicle maker achieving record retail volumes.
The EV manufacturer posted a net loss of $383m for the three months to 31 March 2026, a 130.7% deterioration year-on-year (YoY)
The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss widened significantly to $235m from $96m. Revenue was little changed at $633m, compared with $632m a year earlier. While higher vehicle volumes and favourable sterling and euro movements against the dollar provided some support, these were offset by weaker pricing, a shift towards lower-margin products and reduced carbon credit revenues.
Carbon credit sales fell to $21m from $29m in the prior-year quarter. Retail sales rose 7% YoY to 13,126 vehicles, up from 12,263 units, driven partly by stronger demand for the Polestar 4. The company’s sales network grew to 230 points across 28 markets, from 159 a year earlier.