SEAT/CUPRA

SEAT is one company with two complementary brands: SEAT and CUPRA. One of the high points of 2023 was the presentation of the all-electric CUPRA Tavascan. Thanks to the success of CUPRA and SEAT’s growth, record earnings were achieved in the reporting year.

BUSINESS DEVELOPMENT

The SEAT brand is a Spanish icon revered by millions of people. Founded over 70 years ago, the company offers vehicles with efficient internal combustion engines in addition to mild hybrids and plug-in hybrids, with which it wins over new customers. In 2023, SEAT launched two special editions of the Ibiza and the Arona featuring the new Marina Pack, which improves the sustainability of both vehicles.

CUPRA is the unconventional challenger brand that brings together electrification and performance to inspire the world from Barcelona. In the reporting year, CUPRA held the world premiere of the Tavascan, its fully electric SUV coupé based on the Volkswagen Group’s MEB platform. The exterior design delivers athletic and sporty proportions. From the front, the matrix LED headlights with a triangular eye signature are instantly recognizable. Sports suspension with dynamic running gear technology, progressive steering and performance tires translate into a sporty driving experience. The Tavascan will be available with two power outputs. CUPRA also presented the concept vehicle DarkRebel in 2023. It embodies CUPRA’s highly provocative design language and sets new benchmarks in design and performance. The DarkRebel is the first vehicle to be completely designed in the virtual space. An all-electric, two-seater shooting brake sports car that reflects the boundary-pushing passion and mindset of the CUPRA brand.

Deliveries to customers from SEAT and CUPRA surged by 34.6% to 519 thousand vehicles in 2023. This increase was largely attributable to the strong performance of the CUPRA brand (+50.9% to 231 thousand vehicles) and to SEAT’s return to growth (+24.0% to 288 thousand vehicles).

The company’s unit sales amounted to 602 thousand units in the reporting year. This was 28.5% more than in the previous year. This figure also includes the A1 manufactured for Audi. Both CUPRA and SEAT registered higher demand, their respective best-selling models being the CUPRA Formentor and the SEAT Arona.

SEAT and CUPRA produced 534 thousand vehicles in the reporting year. This was 27.0% more than in the prior year.

SALES REVENUE AND EARNINGS

The company’s sales revenue was up 31.0% to €14.3 billion in 2023. The operating result reached a record level for a fiscal year at €625 (33) million; this result was mainly driven by the success of CUPRA, higher volumes and positive effects from efficiency improvements. The operating return on sales improved to 4.4 (0.3)%.

CUPRA Tavascan

DELIVERIES BY MARKET

in percent