The seat marks its best year in 73 years

In its 73 years of existence, the Seat SA group has never achieved such a great performance. Its operating profit reached a record level of 625 million euros, an increase of 592 million compared to 2022. At the same time, its profit increased from 0.3% to 4.4%. Another historic amount, its sales: this increased by 31% to reach 14.333 billion euros. In total, the Spanish subsidiary of the Volkswagen group delivered 519,176 vehicles, an increase of 35.3% compared to 2022.

Record the presentation

In detail, Seat remains the stronger brand of the two with 288,437 products (+24%). But it was the Cupra that recorded the most progress with international deliveries which increased by 50.9% to reach 230,739 units.

In Seat, Arona and Ibiza are the best sellers with 89,000 and 78,000 products respectively. In its first four markets, Seat grew by 21% in Spain and Germany, 45% in the UK and 30% in France.

Read also: Top 10 Skoda, Seat and Cupra distributors in France

For Cupra, Formentor represented 120,000 deliveries (+23%), followed further by Born (+44%) in 45,000 units. The brand’s main markets are Germany, England, Spain, Italy and Austria. Since its creation in 2018, Cupra has registered 530,000 vehicles.

Cupra, a successful launch

“The launch of the Cupra is a real successremember Wayne Griffithspresident of Kiti SA. In Spain, Cupra is the eleventh most popular brand, although it is only six years old.

The Formentor is the best seller of the Cupra brand. © Cupra

“In 2023, Seat has reached an important milestone as the company is in the middle of a transformation.summary David PowellsVice President of Finance and IT of Seat SA. We achieved higher revenue, operating profit and cash flow. These results perfectly reflect the positive impact of the Cupra brand’s volume growth and the Seat brand’s volume recovery, as well as the importance of the progress we have made as part of our Performance Improvement Plan.”

European products above all

27th Europe (+ UK) represents 72% of sales for two products. Spain accounts for 17% of sales, and the rest of the world, 13%. The average international basket increased by 6% to reach €21,106. On top of that, it’s €6,055 more expensive than five years ago, a huge increase thanks to the Cupra.

If, at last year’s meeting, Seat seemed isolated, Wayne Griffiths announced that it was not, although he did not present any new models for the next two to three years. “The seat will continue to exist with the Cupra”he insisted.

In this period, the news of this range will focus on the update of the multimedia system and the new plug-in hybrid engine that can drive around 100 km on electric power on the Leon while the Arona and Ibiza will benefit from a facelift next year. the second since the commercial launch of these two products.

Electric chair?

“We do not rule out the launch of a B-segment electric vehicle in the coming yearscomments Wayne Griffiths. But the question is still not resolved, because Seat has its own price position. For this we need the right platform and the right time. Kiti is a holistic brand, it must remain so and we must be flexible to meet market expectations, because no one knows how fast the transition to electricity will happen.”

Wayne Griffiths, Chairman of Seat SA. © Chair

On the other hand, the Kit will stop the event of Mo, an electric scooter. “We have not made an economic profit for this project”he recognizes Wayne Griffith. However, we continue to work on urban electric mobility. All scenarios are possible, including that of a small car.”

Cupra in shape

For Cupra, the new product schedule is more clear. At the end of the year, the brand will launch two C-segment SUVs, the Tarascan, an electric SUV and the Terramar, which will have electric heating units as well as the future Leon plug-in hybrid. Formentor and Born VZ redesigns will also arrive.

The Cupra Born VZ will soon arrive at dealers. © Cupra

The B-segment electric car, the Raval, will be available from 2025 and will be based on the same platform as the Volkswagen ID.2 and its Skoda-badged counterpart.

Ultimately, Cupra aims to gain a 3% market share in Europe and plans to sell 500,000 vehicles worldwide. In 2024, three new Cupra City Garages will open: Manchester (UK), Vienna (Austria) and Istanbul (Turkey).

Cupra in the US

At the same time, Seat announced the launch of the Cupra brand in the United States at the end of the decade. “Our strategy in the US is based solely on electric vehicles”he is involved with Wayne Griffith. We will launch the electric Formentor as well as the top-of-the-line SUV and will rely on the Volkswagen group’s manufacturing facilities located across the Atlantic. Why go electric only? With Volkswagen, Audi and Porsche, the group already exists with hot models, it would not make sense to launch a new brand without giving a new look to the future of the car.” As for distribution, Cupra is planning a digital approach.