Polestar was one of Australia’s fastest-growing car brands in terms of sales last year, and while the same growth is not expected in 2026, the Chinese-Swedish brand is confident its growing local dealer network and increasing customer awareness will keep people interested in its electric vehicles (EVs).
With an impressive 38.5 percent increase in sales compared to 2024, the Geely-owned electric vehicle brand’s Australian sales were driven by demand for its two relatively new SUVs, the Polestar 3 and Polestar 4, helping to boost total sales in 2025 to 2373. They also contributed to a 36 percent increase in global sales.
When asked whether this level of growth was sustainable, Polestar Australia managing director Scott Maynard told the media it was important to temper expectations.
“It is and it isn’t. It’s sustainable because a lot of the growth we’ve had has been through the retail business and not through driving in large fleets and doing huge rentals or rideshare deals. So it’s been a really good way to get the volume,” he said.
“It now means we’re friends with so many retail customers, which is exactly the type of business we’re after. That’s what makes it sustainable.”
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Polestar also has numerous new model activities planned for 2026. Now the company is introducing another update to its long-running Polestar 2 liftback and plans to introduce a flagship electric performance car in the form of the large Polestar 5 sedan.
“However, we do not expect to see similar growth again in 2026,” Mr. Maynard acknowledged.
“It’s been supported in part by product and building our dealer network, and all of those things have worked very, very well for us – we have a larger footprint, more outlets and agents across Australia – and while we still have a bit of growth to go with network development and the addition of cars like the Polestar 5, we don’t expect to see over 30 per cent (per cent) growth again this year.”
“We still expect to see growth every quarter; we’re just not seeing the rapid growth that we’ve seen from some really good, strong new model launches in 2025,” he said.
Mr Maynard said the continued expansion of Polestar’s local retail network demonstrated the company’s commitment to the Australian market and the continued demand for the brand’s vehicles Down Under.
“We continue to expand our footprint and will be opening several new locations this year. This shows not only our confidence in being able to serve the market and seeing a need for it, but also the investment from our retail partners who see the Polestar brand performing well in their inventory because they all carry multiple brands,” he said.
“Their investment, I think, shows the community’s trust in us.”
Despite this, Polestar still has around $5.5 billion (A$8.1 billion) in debt and recently closed its last research and development facility in the UK. Just a few days earlier, parent company Geely granted the brand one US$600 million (AUD885 million) loan..
“Globally we have just seen announcements of a further $600 million injection into the brand, not just from Geely but also from outside,” Maynard added.
“It’s all becoming more important there too. So I think there’s a lot of good news coming from the Polestar brand that our customers should find reassuring.”
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