Polestar Cars (PSNY.US) fourth quarter orders increased by 37% year-on-year, with retail sales reaching 12,256 vehicles.

Swedish electric car manufacturer Polestar (PSNY.US) saw its retail sales in the fourth quarter increase from 11,640 in the same period last year to 12,256, with an order increase of 37% compared to the same period last year. Polestar's fourth quarter retail sales and order volumes both experienced growth, boosting investor optimism for high-priced models from this Swedish electric car manufacturer. The company also announced a change in its reporting method, stating that it will report retail sales based on cars delivered to end customers, rather than based on invoice timing, to better align with industry standards. Despite a deteriorating market environment, which has particularly impacted electric car startups like Polestar, the company's performance has improved. The industry has been grappling with slowing demand for electric cars, price competition sparked by Tesla, Inc. (TSLA.US), pricing pressures, as well as the impact of EU and US tariffs. Polestar also faces operational challenges, with quarterly financial reports facing issues and delays, and difficulties in cost control. Over the past year, the company has been trying to turn its business around, including restructuring, changing CEO, design director, board chairman, and appointing a new CFO. New CEO Michael Lohscheller, who took office in October, recently initiated a strategic review and plans to release the latest business and strategic developments on January 16. Polestar will also release its third quarter performance at that time. Lohscheller, when discussing the improvement in order numbers on Thursday, said: "The changes in our business operations are clearly having a positive impact." Polestar positions itself as a Deluxe Corporation electric car manufacturer, aiming to achieve cash flow breakeven by the end of this year.