“We aspire to make Seat an even more sustainable and profitable company in the coming years”

2023-07-31 16:16:08

The CEO of Seat and Cupra, Wayne Griffiths, has celebrated the results obtained by the Spanish brand in the last semester: “The best results in our history in a first semester mean a very special milestone”, and has added that the company is in a transformation process and still has a lot of growth potential.

“Our goal is to earn stronger operating profit and become an even more sustainable and profitable company in the coming years. The best is yet to come », he added.

The Seat company, owned by the Volkswagen group, closed the first half of the year with “record” operating profits of 371 million euros, which is 468 more, since in the same period of the previous year it had losses of 97 million.

Profitability reached 5% (compared to -1.8% in the first half of 2022) and turnover was 7,411 million euros (+37.8%), “the highest figure in the history of the company”.

The company’s vehicle registrations totaled 261,434, 28.1% more than the 204,121 in the first half of last year.

Formentor success

The company attributes the results in large part to Cupra, which has had its best first half, with 107,300 cars delivered, 56.9% more than the same period in 2022 (68,400).

The Cupra brand has sold more than 400,000 vehicles since its creation in 2018, of which more than 25% have been in the first half of the year, and Cupra’s “medium-term ambition” is to sell 500,000 cars annually.

Cupra Formentor FP

As for the Seat brand, it has also had a “high” demand, and the improvement in the supply of semiconductors and other essential parts has made it possible to recover the production volume: Seat deliveries have grown by 13.6%, to 154,200 vehicles delivered, compared to 135,800 in the previous first semester.

The Cupra Formentor continues to lead the company’s sales in the first half, with 60,900 units delivered (+21.1%), and the Cupra Born (the brand’s second most successful model) has delivered 18,900 (+129.4%). .

Cupra’s three main markets have been Germany (32,400, +30.8%), the United Kingdom (11,400, +125.4%) and Spain (11,300, +47.2%), and in the first half of the year the brand has started operations in countries like Morocco and Egypt.

respect to Seatthe Arona continues to be the most sold (53,600 units, +23%), followed by the Ibiza (43,800, +35.3%), and the main markets have been Spain (35,600, +15.5%), Germany (27,900 , +0.4%) and the United Kingdom (15,900, +24.7%).