Seat experienced a significant improvement in business in 2023. The Spanish automobile brand shot up operating profit to 625 million euros, compared to 33 million a year earlier, according to the Volskwagen group's financial report published this Wednesday. The company led by Wayne Griffiths was boosted by Cupra's good momentum and the recovery of its historic brand.
Billing reached 14,333 million euros, which represents a growth of 31%. Vehicle sales exceeded 600,000, 28% more. Both Cupra and Seat registered greater demand, with the Cupra Formentor and Seat Arona models being the most sold. Sales data includes the A1 model manufactured for Audi.
The volume of vehicles delivered exceeded 519,000 units, 34.6% more. Specifically, the Cupra brand experienced a growth of 50%, up to 231,000 units, while Seat registered a growth of 24%, up to 288,000 cars.
Vehicle production stood at 533,000, 27% more. Seat recorded an increase of 15%, up to 287,000 units, while Cupra increased production by 78% thanks to the increase in the production of the Leon (200%), up to 60,000 units, and the Formentor (18%), up to 125,000 units.
During the presentation of the annual results of the Volkswagen group, the CEO of the multinational, Oliver Blume, announced that the construction of the battery plant in Sagunt (Valencia) has already completed the excavation phase and is continuing.
Volkswagen plans to launch its first electric battery factory in Salzgitter (Germany) in 2025. With the Sagunto factory and another in St. Thomas (Canada), the automotive group hopes to cover 50% of its production needs in the 2030, when they are at full capacity.
In the scenario of sectoral slowdown in electric car sales in Europe, Blume has also indicated that the company wants to lower prices to make them more accessible to the population. The senior manager pointed out that they want to promote the electrification of vehicles over 25,000 euros in the Volkswagen, Skoda and Cupra brands.
"We are committed to electrification, but we will be flexible," he assured. Blume has recognized that it is necessary for the environment to support to accelerate the implementation of the electric car. Specifically, he has pointed out that the Administration must maintain stable policies over time for both incentives and the implementation of charging points.
