Classical spatial models of two-party competition typically predict convergence to the median voter, yet real-world party systems often exhibit persistent and asymmetric polarization. We develop a spatial model of two-party competition in which voters evaluate parties through general satisfaction functions, and a width parameter $q$ captures how tolerant they are of ideological distance. This parameter governs the balance between centripetal and centrifugal incentives and acts as the bifurcation parameter governing equilibrium configurations. Under mild regularity assumptions, we characterize Nash equilibria through center-distance coordinates, which separate the endogenous political center from polarization. When the voter density is symmetric, the reduced equilibrium condition exhibits a generic supercritical pitchfork bifurcation at a critical value $q_{c}$. Above $q_{c}$, the unique stable equilibrium features convergence to the center, recovering the classical median voter result, whereas below it two symmetric polarized equilibria arise. Asymmetry in the voter distribution unfolds the pitchfork, producing drift in the endogenous center and asymmetric polarized equilibria. The resulting equilibrium diagram has an S-shaped geometry that generates hysteresis, allowing polarization to persist even after tolerance returns to levels that would support convergence in a symmetric environment. In the high-tolerance regime, we show that the unique non-polarized equilibrium converges to the mean of the voter distribution, while the median is recovered only under symmetry. Hence, unlike the Hotelling--Downs model, where convergence to the median is universal, the median voter appears here as an asymptotic benchmark rather than a robust predictor.