Seat also wants to bring the Cupra brand to the US

Barcelona – Volkswagen’s Spanish subsidiary plans to enter the US with the Cupra brand. “The Cupra will enter the US market at the end of this decade,” Kiti and Cupra boss Wayne Griffiths announced on Thursday. “A strong brand must be global.” They also want to open up a growth market for the Seat subsidiary, which was founded in 2018 and currently operates only in Europe. Germany will remain the most important market for the young brand, added Griffiths. In 2023, almost a third of Cupra sales were in the Federal Republic.

Initially, they want to compete in the USA with two electric cars, said Griffiths: the electric successor of the old Formentor, which is planned for the end of the decade, and a large SUV that they want to develop especially for the American market. . “We will also offer both cars in Europe,” Griffiths said. American cars also want to be produced in North America. “If you want to be profitable there, you need local production.” However, there are no plans to have your own factory. Instead, capacity from the VW brand could be used, which already operates plants in Chattanooga, Tennessee, and Puebla, Mexico.

In Europe, Cupra continues to be one of the fastest growing car brands, said Griffiths. Last year, the Seat subsidiary managed to increase sales by more than 50 percent to 230,700 vehicles. He is therefore confident that the target of three percent of the European market share will be reached in the future. “And at three percent market share, growth will end. That’s why we’re now looking to America.”

Sister brand Seat, which is very successful in Spain, grew by 24 percent to 288,400 vehicles in 2023. The Seat Group, which both brands own, posted the best results in terms of sales and profits: sales rose by 31 percent to a billion euros 14.3. Operating profit increased to 625 million euros – in 2022 it was 33 million euros.

Although Griffiths wants to make Cupra an electric-only brand, Seat has so far only built combustion engines. The Brit has once again denied rumors that he may ditch the Seat brand in favor of the Cupra. “Cupra is the future of Seat. But Seat also has a future.” Considering the weak demand for electric cars, he is even happy to have a powerful combustion engine brand. In the long run, Seat will also have to be electrified. However, the time has not yet come for this.