By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The Auto Magazine
  • Home
  • Auto Shows
    Auto ShowsShow More
    Maserati enthrals at FuoriConcorso with GT2 Stradale and MCXtrema
    May 14, 2025
    Leapmotor presents its range at Automobile Barcelona, Spain
    May 14, 2025
    Alfa Romeo sporting glory dominates “Fuori Concorso”
    May 13, 2025
    Market Art Fair Stockholm and BMW Sweden present Gregor Hildebrandt as artist for BMW Art Commission 2025
    May 13, 2025
    Driving Trade Forward: AfCFTA, AGOA,BRICS and the Tariffs – All On The Menu At Automechanika CEO Breakfast
    May 9, 2025
  • Bikes
    BikesShow More
    Desmo450 MX: Production of the first Ducati Motocross bike begins
    May 28, 2025
    25YM Honda NC750X
    May 13, 2025
    BMW Motorrad presents the new BMW R 1300 RS
    May 2, 2025
    BMW Motorrad presents the new BMW R 1300 RT
    April 30, 2025
    Honda NC750X Named Winner in 2025 Red Dot Design Award
    April 10, 2025
  • News
    NewsShow More
    Toyota Mobility Foundation announces five finalists for $3 million Venice Sustainable Cities Challenge
    May 29, 2025
    Mazda Production and Sales Results for April 2025
    May 29, 2025
    Nissan production, sales, and exports for April 2025
    May 29, 2025
    Honda Production, Sales and Export Results for April, 2025
    May 29, 2025
    Škoda Auto marks 55 years since production of the Skopak began in Pakistan
    May 29, 2025
  • Concepts
    ConceptsShow More
    FIAT unveils the manifesto Grande Panda 4×4
    May 20, 2025
    Renault 4 Savane 4×4 Concept makes its global debut at Roland-Garros 2025
    May 16, 2025
    Hyundai Motor and Plus Unveil Concept for Autonomous Hydrogen Freight Ecosystem at ACT Expo 202
    May 2, 2025
    Hyundai Motor Unveils the new IONIQ 6 and IONIQ 6 N Line
    April 5, 2025
    Kia and LG Electronics Partner to Showcase New PBV Concepts for Work and Play
    April 4, 2025
  • Interviews
    InterviewsShow More
    Kosmas “Dudie” Mamaloukos – The Formidable Racing Talent
    May 15, 2025
    Hi-Range Safari City
    Hi-Range Safari City – The Premier outfitter for 4×4 customization
    May 15, 2025
    BEHIND THE SCENES: ARCHIE RUTHERFORD ON WHAT IT TAKES TO BRING THE W2RC TO SOUTH AFRICA
    May 9, 2025
    Europe and China’s automotive future in a shifting global order
    May 5, 2025
    Sourcing Guide Right-Hand Drive American SUVs and Pickup Trucks in Africa
    April 29, 2025
  • EVs
    EVsShow More
    SEAT S.A. moves towards electric car production in Martorell
    May 29, 2025
    Polestar 3 wins Best EV SUV and Luxury Car of the Year awards
    May 29, 2025
    All-New Nissan MICRA EV debuts ahead of European launch
    May 28, 2025
    BMW Group and Solid Power are testing all-solid-state battery cells in a BMW i7
    May 20, 2025
    Toyota Debuts Stylish, Powerful 2026 C-HR Battery Electric Vehicle
    May 18, 2025
  • Motosport
    MotosportShow More
    43rd Rally Due Valli: Lancia Ignites Verona with a High-Tension Challenge
    May 29, 2025
    Lærke Rønn, Alexia Danielsson, Rasmus Vendelbo, Porsche Sprint Challenge Scandinavia, 2025, Porsche AG
    The schoolgirl who’s just won her debut GT race
    May 28, 2025
    Porsche with new qualifying record and ongoing points streak ahead of China
    May 28, 2025
    Nissan Formula E Team looking to reinforce championship lead in Shanghai
    May 28, 2025
    Opel Mokka GSE Rally: A New Star in Electric Rallying
    May 28, 2025
  • Trucks & Buses
    Trucks & BusesShow More
    MAN development team for autonomous driving is ‘Engineering Team of the Year’
    May 29, 2025
    Scania to start deliveries of new electric buses to northern Sweden
    May 29, 2025
    From left to right: Jens Böther, Regional Council; Nikolas Wenzel, Managing Director of MOIN; Claudia Kalisch, Mayor of Lüneburg; Alex Meier, Depot Manager; Nils Richert, Daimler Buses
    Daimler Buses builds a completely new electric bus depot for a customer for the first time
    May 28, 2025
    600 km range and superfast charging – meet Volvo’s new electric truck
    May 20, 2025
    Vandijck Transport tests the eActros 600 on a long-haul route of over 1,500 kilometers
    Vandijck Transport tests the eActros 600 
    May 18, 2025
  • Reviews
    ReviewsShow More
    GR Supra pushes performance limits with A90 Final Edition and Lightweight EVO
    May 28, 2025
    The new BMW M2 CS
    May 28, 2025
    Defender upgraded: The unstoppable 4×4 is now even more distinctive 
    May 28, 2025
    From vision to Veyron: the evolution of a Bugatti icon
    May 17, 2025
    The new Mercedes-Maybach SL Monogram Series
    May 13, 2025
  • Tech
    TechShow More
    VNC Automotive Partners with P3 to Enhance the SPARQ OS Platform
    May 29, 2025
    Artificial intelligence: Audi boosts production efficiency
    May 28, 2025
    Greater efficiency and productivity with artificial intelligence – generative AI in BMW Group Purchasing
    May 19, 2025
    Aston Martin debuts Apple CarPlay Ultra for iPhone users
    May 16, 2025
    Mercedes-Benz customers in Germany can now purchase and pay for e-Vignettes directly from their vehicle
    May 15, 2025
Hot News
SEAT S.A. moves towards electric car production in Martorell
Toyota Mobility Foundation announces five finalists for $3 million Venice Sustainable Cities Challenge
43rd Rally Due Valli: Lancia Ignites Verona with a High-Tension Challenge
Polestar 3 wins Best EV SUV and Luxury Car of the Year awards
Mazda Production and Sales Results for April 2025
Motosport

Lamborghini celebrates 10 years since maiden Huracán GT3 victory

Latest News

Hyundai Motor, Kia and Samsung SDI Collaborate

Motosport

TOYOTA GAZOO Racing faces a new challenge with full strength

Latest News

MC20 Maserati per Maserati

Font ResizerAa
The Auto MagazineThe Auto Magazine
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Search
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Follow US
Crafted by Intellegere Media. © 2024 The Auto Magazine. All rights reserved.
Latest News

SEAT S.A. achieves record financial results in the first nine months of the year

Itumeleng Garebatshabe
Last updated: November 1, 2023 17:55
By Itumeleng Garebatshabe
578 Views
6 Min Read
Share
6 Min Read
SHARE
  • The company posts an operating profit of 501 million euros, 512 million more than between January and September 2022, thanks to the success of CUPRA, the increased volume of SEAT and efficiency improvements
  • Sales revenue exceeds 10.8 billion euros, an increase of 38.6%
  • Operating return on sales grows, and is now at 4.6%
  • CUPRA continues to break records with 170,100 cars delivered (+55.1 %)
  • SEAT sales grow by 21.6% to 221,700 vehicles delivered
  • The company’s total deliveries increase by 34.2% to 391,800 units

SEAT S.A. achieved record financial results between January and September 2023 driven by the success of CUPRA, the increased volume of SEAT and efficiency improvements. The company posted an operating profit of 501 million euros (512 million more than in the same period of the previous year) and an operating return on sales of 4.6% (+4.8 p.p. compared with January to September 2022). SEAT S.A. sales revenue increased 38.6% to 10.837 billion euros in the first nine months of the year, the highest amount in the company’s history.

“We achieved record results between January and September and this is very positive news in a context that presents more and more challenges, such as the increase in the costs of raw materials, the insufficient supply of components, increased competition between brands and high interest rates and inflation,” said Wayne Griffiths, CEO of SEAT and CUPRA. “Beside those challenges, we stay optimistic. Our ambition is much greater and we need to be a more profitable company to ensure sustainability and to continue investing in the future. There is work to do, but we are on the right track with our two strong brands, SEAT and CUPRA, which are successfully contributing to this goal. It is time to maintain this momentum and continue moving forward,” continued Griffiths.

- Advertisement -
Ad image

“The results for the first nine months of 2023 show a positive evolution in our objective: achieving a stronger operating profit and more sustainable profitability. However, the macroeconomic forecasts for our main markets for 2024 pose new challenges. Therefore, to achieve our objectives we must continue to follow the defined strategic priorities and improve revenue management and efficiency in cost structures,” said David Powels, Executive Vice President of Finance and IT at SEAT S.A.

Growth in deliveries drives the results of SEAT S.A.

The success of the results of SEAT S.A. is mainly driven by an increase in the volume of deliveries. Between January and September, the number of vehicles delivered by the company increased by 34.2%, reaching 391,800. In this period, SEAT S.A. delivered nearly 100,000 more cars than the same period of 2022 (292,000) and deliveries have already exceeded the result for the previous full year (385,600).

CUPRA has boosted the company’s global deliveries and continues to break records. So far this year, the brand has delivered 170,100 cars, 55.1% more than in the same period in 2022 (109,700), completing the best first nine months in its history. CUPRA delivered more vehicles between January and September than in the whole of 2022 (152,900) and continues to consolidate its position as one of the fastest growing brands in Europe. In September, it achieved its best monthly sales results, with more than 23,500 cars delivered. Since its creation in 2018, CUPRA has sold more than 450,000 vehicles. The brand’s medium-term ambition is to sell 500,000 cars a year.

SEAT has also contributed to increasing the company’s sales thanks to the recovery in the supply of semiconductors and other essential components, which have allowed production levels to increase this year. Between January and September 2023, SEAT brand deliveries grew 21.6% reaching a total of 221,700 vehicles delivered (182,300 in the same period of 2022).

The CUPRA Formentor continues to lead sales

The CUPRA Formentor, the best-selling A-CUV in Europe, remains the company’s most popular model with 91,900 units delivered between January and September, 23.3% more than in 2022. For its part, the CUPRA Born, the brand’s first 100% electric model and the second best-seller, recorded 32,300 cars delivered, which represents an increase of 84.3% compared to the same period of the previous year.

CUPRA’s three main markets between January and September 2023 were Germany (53,300; 33.2% more than in 2022), the United Kingdom (18,700; +78.6%) and Spain (15,900; +50.1 %). Outside of Europe, CUPRA’s global growth has been reinforced in 2023 with the start of operations in countries such as Morocco, Egypt and Tunisia, and Australia is already one of the brand’s top 15 global markets, with more than 2,500 cars delivered so far this year.

Regarding SEAT, the SEAT Arona remained the brand’s best-selling model between January and September 2023 (72,200 units; +26.8%), followed by the SEAT Ibiza (59,400; +45.0%). The brand’s main markets in this period were Spain (46,500; +20.1%), Germany (45,200; +20.1%) and the United Kingdom (24,300; +43.2%).

TAGGED:Cupraglobal salesSEAT S.A.

Sign Up For Daily Newsletter

Stay Updated! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp LinkedIn VKontakte Telegram Email Copy Link Print
Share
ByItumeleng Garebatshabe
Editor
Follow:
Itumeleng is the Managing Editor of The Auto Magazine. He is a tech and car enthusiast

Follow US

FacebookLike
XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow
TelegramFollow
Google NewsFollow
LinkedInFollow
- Advertisement -
Ad imageAd image

You Might Also Like

Latest News

DACIA IN H1 2023: THE SUCCESS STORY CONTINUES WITH 24% GROWTH

By Itumeleng Garebatshabe
July 19, 2023
Latest News

Porsche delivers 226,026 vehicles in the first nine months

By Itumeleng Garebatshabe
October 15, 2024
Latest News

Porsche delivers 77,640 cars in the first quarter

By Itumeleng Garebatshabe
April 11, 2024
Latest News

JLR delivers strong performance due to Range Rover sales

By Itumeleng Garebatshabe
February 3, 2024
Latest News

Volvo Cars reports January sales

By Itumeleng Garebatshabe
February 4, 2025
Latest News

Honda Production, Sales and Export Results for December, 2023

By Itumeleng Garebatshabe
January 31, 2024

The Auto Magazine

  • Advertise
  • About Us
  • Contact
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Bikes
  • Electric Vehicles
  • Trucks & Buses
  • Auto Shows
  • Latest News
  • Motosport

Made by Intellegere Media. All rights reserved. 2023

Don't not sell my personal information
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc.

Zero spam, Unsubscribe at any time.
adbanner