Friday, May 24, 2024

Sales plummet – car brand fires people in Denmark

Polestar sold just 7,200 cars worldwide in the first three months of 2024, almost 5,000 fewer than a year ago. Now people are being fired – also in Denmark.

Polestar is and has been on a dot tour among its employees. This has also happened in Denmark.

The problem child with a limping economy, which Volvo passed on to the Chinese parent company Geely in February, is bleeding sales.

In fact, sales of new cars plummeted by as much as 40 percent compared to the same quarter just a year ago. This also means layoffs in Denmark.

This is confirmed by the Danish importer's director, Henrik Bang, in an interview with Motor magazine. However, without putting numbers on how many of the layoffs have taken place in Denmark.

READ ALSO: Several car dealers end up on a shameful Danish list

In January this year, however, Polestar announced that it will get rid of 15 percent of its employees, which corresponds to 450 people.

However, Henrik Bang calls the cuts in Denmark 'minimal' because, according to the director, the Danish importer compared to other markets where Polestar is present, has done well.

Although Polestar, now that it has been taken over by Geely, is officially equal to Volvo, on paper it is not a healthy business.

The most recent financial year shows a deficit of as much as SEK 5 billion. Even so, Henrik Bang denies that the brand has a 'sugar daddy' who just blindly throws money into the project.

Instead, Polestar has taken out loans from a number of international banks, including the major British bank HSBC.

Overall, just over 7 billion Swedish kroner have been borrowed. The question then is whether it is the brand's salvation, now that money is not 'blindly thrown into the project'.

Read more exciting news from and about the world of cars right here!

Latest

Don't miss

Haas admits fault for huge Kevin Magnussen error

Kevin Magnussen is fighting for his future in Formula...

Formula 1 is considering new engines from 2030 – for the sake of the fans

Formula 1 chief executive Stefano Domenicali now says he...

The risk of electric cars hitting pedestrians is 3 times greater

New figures show that the risk of electric cars...

New Mercedes PureSpeed does 315 km/h without a roof

In connection with Monaco's Formula 1 Grand Prix this...

When you want to be sure that you are well fed

Few of us can imagine everyday life without a...
Boosted Magazine
Boosted Magazine
Boosted in Denmark has over a million unique users, surpassing two million sessions, and accumulating over seven million page views each month, and our platforms has become a hub for automotive enthusiasts. Now you can enjoy our content in English too! Enjoy our free car news - every day. Want to talk to us? Write an email to boosted@boostedmagazine.com
spot_img

The Toyota GR Yaris costs almost DKK 800,000 in Denmark

It is so expensive that it is doubtful whether Toyota will even sell any here at home. Nevertheless, the importer is now opening for...

Bugatti is considering gas stations as an option

When it comes to Bugatti's customers, it is hardly the economy that sets limits on the optional equipment list. There may come a day...

Opel recalled 9,800 cars with embarrassing fault

Exactly how the error occurred is uncertain. But Opel had to check almost 10,000 cars for wrong chassis numbers. Even with the high technology...

Acquitted of drug cartel: Mother-in-law's coffee was to blame

Last year, a now 31-year-old Swedish man was fined 5,000 kroner for drunk driving, but then he blamed his mother-in-law's coffee. And now the...

20-year-old arrested – hid 22 camera traps under his bed

A wave of thefts that have hit a number of Swedish speed cameras may have been solved. The police found the cameras under a...

Polestar rejects new trend – "not in our cars"

Several new cars - and not just those that run on electricity - are a sea of light in the cabin. Polestar doesn't want...

Investigation: Critical failure will be fewer in new electric cars

Since 2016, less than one percent of all electric cars have had their battery pack replaced because the capacity has dropped to an unacceptable...

Admitting joke – dead car brand does not come back

Pontiac is long since dead and buried as a car brand. Still, an ad in a print automotive magazine gave some fans false hope....

Volvo will build trucks that burn hydrogen

BMW and Toyota are experimenting with it - and now Volvo is jumping on the bandwagon when it comes to burning hydrogen. If the...

New figures: These electric cars lose the most in value

It doesn't matter which car you invest in. Not even if it has to run on electricity. At least not if the goal is...

Volkswagen blames EVs for ID.7 decision

The all-electric Volkswagen ID.7, which is the same size as the Passat, should have actually been out in North America. But now the car...

New Kia EV3: See pictures and specifications here

Here you can read everything about the new Kia EV3, which has just been presented. Get all the data, pictures and specifications in the...
footer.txt Viser footer.txt.