Polestar announced on 28 August 2024 that CEO Thomas Ingenlath had resigned, with Michael Lohscheller set to take over on 1 October. The change came as the electric-car maker was reporting weak sales, but Polestar did not say that the sales decline caused Ingenlath’s departure.
When did Thomas Ingenlath leave Polestar?
Polestar announced the leadership change on 28 August 2024. Ingenlath resigned, and Michael Lohscheller’s appointment as CEO took effect on 1 October 2024. Polestar described Lohscheller as a former CEO of Opel, VinFast and Nikola.
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In the announcement, incoming chairman Winfried Vahland said Polestar had experienced an “exceptional start-up phase” and called Lohscheller the “ideal leader” for its next chapter. Those were Vahland’s reasons for endorsing the appointment, not a detailed explanation of Ingenlath’s resignation. Polestar’s 28 August 2024 announcement does not say that weak sales prompted the departure, and it does not disclose severance terms or board deliberations.
What was happening with Polestar’s sales?
The timing coincided with a difficult period for sales, though Polestar’s releases report different measures and periods. In July 2024, the company said Q1 global volumes had fallen sharply year over year. Its January 2025 release later reported retail sales for the full year and explained that it had amended its volume definition.
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| Period and measure | Polestar-reported figure | How to interpret it |
|---|---|---|
| Q1 2024 global volumes | 7,221, down 40.2% from Q1 2023 | Reported under the earlier global-volume definition, which included external sales and internal-use vehicles. |
| Q2 2024 deliveries | Approximately 13,000, 80% more than Q1 | A delivery figure; the release did not present this as a finalized first-half sales result. |
| FY 2024 retail sales | 44,851, down 15% year over year | Retail sales under the amended definition, representing sales to end customers. |
| Q4 2024 retail sales | 12,256, up 5.3% year over year | Quarterly retail sales. Q4 order intake was also up 37.2%, but order intake is not completed sales. |
Polestar said the US decline reflected lower demand and the absence of Hertz sales. It also reported lower revenue and higher discounts, and described import duties and global EV pricing pressure as short-term headwinds. These are the company’s explanations, not independent findings about the causes of its sales performance. The company’s 2 July 2024 release included preliminary, unaudited Q1 results and Q2 delivery figures.
How should Polestar’s sales figures be compared?
Starting with its 9 January 2025 release, Polestar said it had amended its global-volume definition to align with sector convention and described retail sales as sales to end customers. That distinction matters when comparing early-2024 global volumes with later retail-sales figures: they are not necessarily the same measure. Use the company’s restated series where available rather than treating the measures as interchangeable.
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Order intake also needs to be kept separate from sales. The 37.2% rise Polestar reported for Q4 2024 describes orders taken, not cars delivered or sold to end customers. The full-year and quarterly retail-sales figures appear in Polestar’s 9 January 2025 release.
What do more recent sales figures show?
Polestar’s 9 July 2026 update reported estimated retail sales of 30,423 for the first half of 2026, up 0.4% from the first half of 2025. Second-quarter sales were 17,296, down 4.0% year over year. The company also reported 235 retail sites, 39% more than a year earlier. These figures suggest a mixed picture rather than a simple, uninterrupted decline or recovery. The July 2026 release called the first half a record, while its reported year-over-year comparisons show only modest growth overall and a quarterly decline.
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