前7月在华销量不过百，极星退“市”传言再起

Core Viewpoint - Polestar, a joint venture between Geely and Volvo aiming to compete with Tesla, is experiencing a significant decline in sales in China, with rumors of a potential exit from the market intensifying [2][5]. Sales Performance - In July, Polestar sold only 5 vehicles in China, with cumulative sales for the first seven months of the year being less than 100 units [3][4]. - Since entering the Chinese market in 2017, Polestar's sales have consistently deteriorated, with figures of 2048 units in 2021, 1717 in 2022, and 1100 in 2023, while only 69 units were sold in the first half of 2025 [5]. Market Positioning - Polestar's unclear market positioning has contributed to its declining sales, with a wide price range for its products. The first model, Polestar 1, was priced at 1.45 million yuan, targeting the ultra-luxury segment, while subsequent models fluctuated between 299,800 yuan and 1.68 million yuan [5][6]. - The inconsistent product launch strategy has failed to establish a premium advantage in the high-end market and has led to internal competition with brands like Zeekr [6]. Operational Challenges - Polestar's online car purchasing system has been closed, and the company has significantly reduced its physical presence, with only one operational store remaining in Shanghai [8][9]. - The management team in China has faced a wave of departures, including the regional general manager, indicating operational instability [9]. Global Market Performance - Despite challenges in China, Polestar has seen strong performance globally, with 30,000 units sold in the first half of the year, a 51% increase year-on-year, particularly in the European market [9]. - Polestar is building an ecosystem in Europe through services like charging packages and battery subscriptions, enhancing customer loyalty [9]. Regulatory Challenges - Polestar faces significant regulatory hurdles in its global expansion, particularly in Europe, where anti-dumping tariffs of 18.8% on Chinese electric vehicles have been imposed, increasing cost pressures [10]. - The U.S. market presents even stricter limitations, with a 100% tariff on Chinese vehicles and plans to ban all vehicles produced by manufacturers with Chinese or Russian ownership by 2027 [10].