Tesla has sold millions of cars to millions of people in the last few years. Now, with Elon Musk becoming more political than ever, a sizable number of those people want nothing to do with the brand or its CEO. With many owners looking to sell, Polestar saw an opportunity to win itself some new customers.
As covered by InsideEVs, the Swedish EV brand is offering big incentives on new Polestar 3 leases. On top of already-existing $15,000 incentives, those trading in a Tesla can score an extra $5,000 bonus. Stack those, and it adds up to $20,000 off a Polestar for dropping your Tesla.
Polestar isn’t being shy about this in the slightest. They’ve named it the “Tesla Conquest Offer,” and it has apparently proved remarkably popular.
According to Polestar’s US Head of Sales, Jordan Hofmann, the move was successful. “This week saw some of the highest order days for Polestar 3, and the response to our Tesla Conquest Offer has been incredible,” Hofmann posted on LinkedIn. “Manufactured in the USA, Polestar 3 is turning heads and drivers are making moves — it’s clear they like what we bring to the table.”
With the existing $15,000 incentive on the hood, a Polestar 3 lease starts at $599 a month with a $5,000 down payment. A further $5,000 Tesla Conquest credit will bring that down further, possibly well below the $500 a month level. Polestar’s standard lease term is 27 months including 10,000 miles a year.
Polestar initially offered the deal from February 21 to 28. However, this appears to have been extended to March 2. It’s unclear if Polestar will continue the deal further; The Autopian has contacted the automaker regarding this detail. To claim the credit, Polestar required a copy of US registration or insurance documents outlining one’s name, address, and the Tesla’s VIN to qualify for the credit. The Tesla can also be owned by someone else in your household. You don’t actually need to trade the Tesla in, as Tesla doesn’t allow other companies to buy out its leases. You’d have to handle that side of things directly with them instead.
On top of existing owners looking to sell, Tesla has also faced a 50% drop in new sales in Europe in January. It comes in the wake of CEO Elon Musk being more and more vocal about political topics and now working hand-in-hand with president Trump. As covered by Newsweek, Musk’s powerful personal brand has turned Tesla vehicles into a political symbol, which some owners don’t necessarily wish to be aligned with.
The furor towards the brand has reached fever pitch in recent weeks. As reported by Reuters, Saturday saw nine arrested at a major protest at a New York Tesla showroom. Earlier in February, a carpark full of Teslas had their wheels stolen in Houston. These incidents are just the tip of the iceberg. It makes earlier bullying towards early Cybertruck owners look tame in comparison.
Polestar isn’t the only company taking shots at Tesla, either. Kia Norway took to Instagram to post a photo of an EV3 wearing a sticker that reads “I bought this after Elon went crazy.” It riffs on a popular sticker making the rounds with Tesla owners right now, that reads “I bought this before Elon went crazy.”
View this post on Instagram
Supply and demand work in a straightforward manner in the automotive world. All the signs suggest that demand has cratered in some markets, which could see resale values tank for owners looking to dump their cars; selling depreciated cars directly could yield disappointing prices. Such conditions could make Polestar’s offer look more attractive to Tesla owners looking for the proverbial off-ramp.
Image credits: Polestar
Hat tip to Shiroi—thanks for the tip!
I don’t support those who profit from creating controversy nor do I support those who profit from opposing it.
TIL: Polestar 3 is manufactured in the USA. That’s kind of news on it’s own.
Since it’s still technically a Chinese owned company, does it still have the complications of cyber security that TikTok does?
“Manufactured in the USA, Polestar 3 is turning heads and drivers are making moves — it’s clear they like what we bring to the table.”
With all due respect to Mr. Hoffman, people like the rebates they’re putting on the hood.
Traded in our Polestar 2 for a 3 in Dec. The 2 was great, but just needed a little extra room, the 3’s back seat as a lot more leg room. If you need a 3rd row, look at the Volvo EX90, which is the cousin to this car but with 3rd row. The 3 moves the rear seat back for more leg room, the EX90 moves it forward a bit to fit the 3rd row.
Both the Polestar 2 and 3 was a bit surprising in how well it handled, the 2 handled just as well as my VA WRX did. For a 5,800 lbs tall wagon, the 3 has no right handling corners the way it does.
“The ‘fuhrer’ towards the brand?” OK. It’s a shame that short-shirt Elon is also dragging Nikola Tesla’s name through the mud too.
This lease cash brings down the price to where I could almost swing it. But I’d be giving up a third row seat, which is used regularly enough to be glad to have it. The mileage also wouldn’t work. It would totally depend on the residual and money factor if buying out would be doable.
Isn’t the Musk controversy just a god-sent thing for Polestar? They have plenty of cars in stock (they’re obviously a struggling car maker) yet discounting products when you aspire to be a premium brand, is a no-go-zone. But Voilà; Now they can discount their cars and hide the dirty truth behind a political narrative.
“Isn’t the Musk controversy just a god-sent thing for Polestar?”
And a God-send to other BEV makers like VW, Rivian, Ford, etc.
the big question is can we get someone to make a decent network of charging stations that no longer lines Elon’s pockets. And can someone tell me if the price on those is regulated in any manner.
I would be curious if the use of a Tesla battery pack for pennies on the dollar now, could be converted to DC fast Charger system. Maybe drive one out to some of the more out there gas stations, cover it in a solar geodesic dome and let people use it on any EV that rolls up to it.
I always thought one of the biggest, long-game winners in the EV evolution is the company that comes out on top with the technology that becomes the charging standard.
Yes and no. That’s basically what Tesla did, but now that everyone has moved to NACS it means their competitive advantage in that space is gone. Since the charging network was the primary reason to buy a Tesla (especially over any other EV), it’s not clear that in the long run having won the charger wars will actually be a good thing for them.
Yep, unfortunately super charger stations are the only real option on long road trips in a lot of places. The other networks will only have a handful chargers and typically a few of those are out of commission. My ID.4 is perfect for commuting from the central valley into the East Bay and can easily handle our day to day transportation needs. But I use our ICE Grand Cherokee for road trips. VW is supposed to be releasing an official adapter that will let its cars charge on the supercharger network but the thought of putting even one penny into elons pockets fills me with revulsion. I simply won’t do it.
I would be hugely interested if the vehicle wasnt $80k to start for a dual motor version… 30k off the hood doesn’t even make it price competitive with the Model Y, unfortunately… and honestly, as much as it absolutely is a better car, it isn’t better enough to justify an almost doubling of the price (45k is currently the incentiveless price).
I wish it was, I really wish it was viable.
And yes I know fuck Elon, and agree… but also I 100% could not afford to dump a paid-for car for even more money.
Would you consider buying a used one? There are a lot of low mileage Polestar 2s for around $20k (some as low as $15k). In two years you might be able to pick up a gently used 3 for $30k or less.
This is a more genius troll than anything Musk has done.
Isn’t Polestar about as Swedish as MG is British at this point?
It is as Swedish as the U.S. government is American.
Polestar is 100% Chinese.
So the article pic with “manufactured in S. Carolina” is fake? Just asking, I don’t have a clue.
Just because it is made in the US, does not mean the money is not flowing back to China.
True, the key metric is how much of the value add (and wages) remain within the US vs flowing back home. Most companies making cars here keep the bulk of the money — suppliers, wages, taxes — within the US, which is a win for us IMO. I’m not at all isolationist, but I do cheer for our successes in manufacturing when it’s done “the right way” and not through heavyhanded laws or tariffs.
you might have to explain what constitutes bulk? Profit Percentages are what shareholders look at and I suppose that could be the number indicated here, but I can tell you that car companies generally sit around 5-15 percent while most other stockholder beholden companies are expected to show 30 percent profit to indicate health. The operating profit margin fell to 5.5 percent in 2024 for Stellantis, it was I think 14 Percent in 2023. But because 14 or even 5 is still a big number when just looking at the dollar amount, it often gets misunderstood when discussing scope.
True but would you say the same thing for Honda, Toyota, Nissan, Subaru, Kia, Hyundai, BMW, VW, Daimler, etc? Would we be better off if these plants did not exist?
I’m actually very happy they build the cars in the US. I have no issues with any of the manufacturers you mention, because none of them are based in Communist China. It is my only hang-up. We are VERY much better off that these plants exist, and more-so that they exist in the US.
The money paid to the people that assembled it isn’t flowing back to China. Cars made in the US by foreign companies > cars made in Mexico by US companies.
And all the technology is developed in China and not the US. The US becomes just a place to bolt together parts designed by a Chinese company.
Bingo. I have no issues with Chinese engineers, Chinese engineering, or even the fact that they are bolted together in the US. It’s the eventual government where the money and taxes go I have an issue with.
Built in the US at a S Carolina factory. Polestar is owned by Geely, which is a Chinese company.
And has never built any car in Sweden in their history
No, it’s built in South Carolina, alright, but Polestar’s claim to identity as Swedish has been getting more and more tenuous over the years, they have some R&D and design operations in Sweden, but that’s it, every car they’ve ever sold worldwide has been built in either China, South Korea, or the US
I just bought a Polestar 2 this weekend. At 9 am on Saturday, there was myself and two other customers in the dealership. Both of the other customers were there to trade in their Teslas. Anecdotally, at least, the promotion seamed to have brought them some sales.
I traded in my Tesla for a 1989 Geo Storm, with only 50% rust. The seats are ripped, it has no exhaust, fifth gear is missing, and it won’t start without a jump.
But hey, it’s better than a Tesla.
This deal seems exceptionally misleading. Essentially, Polestar will give you $15k off the MSRP it arbitrarily set for this vehicle that may or may not have any basis in reality. For Tesla owners, Polestar will give another $5k off the MSRP it arbitrarily set for this vehicle that may or may not have any basis in reality. And of course, that $15k or $20k off comes in the form of a “clean vehicle noncash incentive,” whatever that means.
I hope no one actually thinks this deal means they are getting a car for $20k less than it is reasonably worth.
Are you just now discovering marketing? Regardless of how the original price is set, the $5000 extra for a Tesla trade is a real saving off that number that is not available for people trading in other brands.
I would have to see the actual contract (and lease contracts for buyers not participating in this deal) to know if that is the case. Polestar’s website has several paragraphs of fine print for this deal. Lease deals leave a lot of room for the dealer to make money other ways. Plus, it is only for a 27 month lease. If Lewin is correct that Tesla buyers might save $100 per month, that only adds up to $2700.
I’m mostly reacting to the ridiculous headline that implies Tesla owners actually get $20k worth of value by taking this deal. As you said, this is marketing. I see articles like this on this website too often. It would be nice if writers at The Autopian were a bit more skeptical of these deals.
I agree with the fact that clickbait headlines are very annoying. It is pervasive and a sign, and cause, of the post-truth world in which we now live.
It’s not the deal that’s misleading, it’s the Autopian headline. It really should say they’re offering an additional $5000 discount for Tesla owners. The full $20000 number mostly doesn’t relate to whether you own a Tesla or not.
How long before Musk has to deploy National Guard regiments to cordon off Tesla sales / service points besieged by protestors?
Presales of the original Beetle were used to help fund the Nazi war effort. Too bad the Germans who were willing to see what was right in front of them weren’t more vocally angry with their neighbors about their support for evil. Hopefully, the remaining sane Americans have more backbone.
Many Germans DID protest. Very bad things happened to them:
https://www.bbc.co.uk/bitesize/guides/zp3p82p/revision/6
https://en.m.wikipedia.org/wiki/German_resistance_to_Nazism
So being vocally angry to your Nazi neighbor -> neighbor informs Gestapo or SA = you get a visit in the middle of the night -> you and perhaps your family end up dead or in a concentration camp and your neighbor gets an informant’s bonus.
That is true, but there was a window of time before those systems were fully in motion, which is where we are now. Besides, no matter the consequences, nobody with any moral integrity would stay silent.
My grandfather was with the U.S. Army with the division that liberated Buchenwald. His surname was German; he grew up in a town in Wisconsin where the majority of the population was of German descent. He told me in no uncertain terms that one thing he regretted was not ensuring that the “America First” pro-nazi, pseudo-American-patriots in his town knew what he thought of them at every opportunity.
He did make sure they knew what he thought of them when he returned.
I think doing so in Germany would have gotten your name and address on a list to be dealt with later. Or maybe you’d *just* get beaten up by the brownshirts. A few weeks in hospital, a bit of permanent nerve damage for your trouble. But maybe that would have been the impetus to GTFO of Nazi Germany. Somewhere safe..like Austria, the Sudetenland or Poland.
All true, but the basic issues remain. The state-based system of repression took a bit to materialize after the initial change in government.
Hopefully that will take more than four years.
I applaud your optimism that there will be elections in four years. I am confident there won’t be.
I’m more worried about bird flu.
I wish I could say my predictions about any of this since 2015 have been wrong, but they haven’t. I have the benefit of having multiple citizenships. Not that that will be a sure safety net.
If things get xenophobic enough you could be forced to choose between your US or foreign allegiances.
It’s not a hard decision. A U.S. passport is quickly becoming a scarlet letter in most places.
Crazy idea, but is there a way that Polestar take ‘ownership’ of any cars that are traded in, then to boost the US economy in a green way, cannibalise the Teslas to use the battery and motor etc etc to make a new range of ‘recycled’ vehicles.
Depending on the degradation of the battery, gives you a short or a long range too version too. So number of Polestars goes up, number of jobs goes up, number of Swasticars goes down. Everyone wins…. Well maybe not Elon.
That’s genius. If the other EV manufacturers have more than 3 brain cells to rub together, they’ll be copying this idea shortly.
“This” automaker is Polestar. Please just say so in the headline. “This” is a needless gotcha to pique curiosity and drive clickthrough by hiding information and is disingenuous and disrespectful to your readers
Because you put “This” in quotes I read your entire comment in Doug Demuro’s voice.
I clicked the article just to say this. There’s no need to hide the ball–be straightforward in the headline and offer the details in the article.
God I hate “this” trend in news sites. Please don’t let it be creeping into enthusiast sites as well.
Increase clicks with “this” one weird trick.
Doctor recommends clicking “THIS” every day to immediately cleanse your bowels!
I mean, one can easily see it’s a Polestar 3 in 12 parsecs.
I hate to say… but this is just the natural evolution of online media as they chase clicks. Anyone that has been here from the beginning has seen it happening. Maybe slower than in some other cases, but the creep continues. At least they aren’t totally leaning into it.
According to social media folks I respect, being slightly vague in your headlines is one of the best ways to drive clicks without being completely inaccurate clickbait. The bigger problem with the headline is that the $20000 number isn’t for Tesla owners, it’s 15k for everyone and 5k for Tesla refugees. That is arguably inaccurate.
Until they’re fully funded by subscriptions, they have to play the game. “This” is part of it. Otherwise the site withers and dies and you get your wish that there be no more vague headlines, because there will be no more headlines at all.
We love free market! No, not like that. Someone at Tesla and the government right now…probably.
Every conservative in my life has at one point claimed that they love the free market, yet will simultaneously get mad at anyone making consumption choices against conservative companies, as if I’m somehow violating their favorite corporation’s right to free speech by avoiding a particular chicken sandwich.
You can’t have it both ways.
That’s not what Burger King told me!
Just kidding, no one eats at Burger King.
I actually had Burger King this weekend. Wasn’t my choice. Mediocre as usual.
Every self-proclaimed “freedom-loving” enthusiasts must also offer unconditional support for:
Racial equality
Women’s right to choose
Freedom of having no religion
Freedom of not having governmental policy being influenced by others’ adult fairy tales
LBGTQ (with probable exception to unsettled questions on biological performance in sports)
Euthanasia
Any detractor is a phony.
I get the impression that many folks out there aren’t aware of what freedom actually is, or means.