Cupra's growth goes through the United States market, an objective on which the automotive group has been working for months and which already has very advanced planning.
The CEO of the company, Wayne Griffiths, reaffirmed the intention to start selling Cupra vehicles in the North American country in the future, and also to manufacture them there taking advantage of the factories that the Volkswagen Group has in the USA, and also in Mexico “We want to be a global brand and that means we have to go to the United States; we are analyzing the strategy to enter it", Griffiths explained yesterday in a meeting with journalists in Munich, as part of the International Motor Show that is being held in the city this week. The final decision will be made before the end of the year, according to the manager.
The arrival of Cupra in the United States has a double meaning. On the one hand, it would serve the Spanish brand as a platform to expand into other markets in which it does not currently have a presence. On the other hand, it would boost the market share of its parent group in the country, with a scant 5% at present.
For this reason, Griffiths believes that they must develop new electric vehicle models. “We need to look for cars that work in this market, of a large size; the Cupra Raval, for example, would not work there," he commented. The company has already done market tests and has identified the states and areas of the country in which it could penetrate. The landing would be done selectively, almost surgically, not on a US-wide scale.
He also calculated the investment needed to execute the operation, but he has not revealed the sum it would entail. It will, of course, be a "very important" match. The ability to finance it will depend in any case on the company's results. "To do something like this you have to earn money, and not just for a semester", stressed the CEO.
The Seat group earned 7.4 billion euros in the first half, with an operating profit of 371 million euros, thanks mainly to the boost in Cupra sales. Since the beginning of the year, Cupra has delivered 150,000 cars worldwide, 60% more than during the same period last year. The brand has planned new launches over the next two years. By 2024 it will start selling the Tavascan model, and the Raval will be sold from 2025.
Regarding the plans for the Seat factory in Martorell, Griffiths reiterated the need for a second platform to arrive if "profitability objectives" are to be achieved, although a decision has not yet been made. "The factory is quite full until 2030." The Seat brand will continue to focus on combustion cars, which, according to the manager, is an advantage. In the transition period of the market towards the electric car "flexibility" is required. "If the electric doesn't start as planned, we have Seat's combustion cars", he concluded.
