By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The Auto Magazine
  • Home
  • Auto Shows
    Auto ShowsShow More
    BMW and Alvaro Barrington celebrate hydrogen mobility at Art Basel in Basel 2025
    June 18, 2025
    MHB DEALER EXPO 2025 – A Premier Automotive Networking Experience
    June 17, 2025
    Entries Open for The Cape 1000 – South Africa’s Most Beautiful Drive Returns for 2026
    June 10, 2025
    Ulterio Motiv Toyota Land Cruiser 6×6 and 6×4 to invade Land Cruiser Festival
    June 3, 2025
    Maserati enthrals at FuoriConcorso with GT2 Stradale and MCXtrema
    May 14, 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
    Porsche 963 cars raise 600,000 euros in Le Mans towards Racing for Charity
    June 20, 2025
    50 Years of BMW Art Cars and the BMW 3 Series at the BMW Museum
    June 20, 2025
    Ford Performance Returns to Pikes Peak with Electric Super Mustang Mach-E Demonstrator
    June 20, 2025
    Winners of ISUZU AI Innovation Challenge 2024 announced
    June 18, 2025
    Kia Tasman Blazes New Trail 
    June 18, 2025
  • Concepts
    ConceptsShow More
    TOYOTA GAZOO Racing unveils liquid hydrogen-fueled “GR LH2 Racing Concept” at Le Mans
    June 11, 2025
    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
  • Interviews
    InterviewsShow More
    24-hour race at Le Mans, the Nürburgring and Spa – triple marathon for Mercedes-AMG Motorsport
    June 10, 2025
    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
  • EVs
    EVsShow More
    Polestar 3 OTA update introduces new Abbey Road Studios Mode exclusively for Bowers & Wilkins audio system
    June 18, 2025
    No Compromise Ford Ranger PHEV Brings Electric Power to Europe’s Best-Selling Pickup
    June 18, 2025
    Scania launches MCS rapid charging solution at EVS38
    June 18, 2025
    Ford Begins Capri and Explorer Battery Pack Assembly in Cologne
    June 17, 2025
    Special Envoy Launches XPress – SA’s First Full EV Courier Fleet
    June 11, 2025
  • Motosport
    MotosportShow More
    Commanding performance by Škoda at Rally Poland
    June 20, 2025
    Nissan Formula E Team ready for Jakarta return as Season 11 enters closing stages
    June 20, 2025
    Martin Prokop Becomes First Privateer for Ford Raptor T1+
    June 18, 2025
    The 2025 24 Hours of Le Mans in Numbers
    June 18, 2025
    Samantha Tan makes her debut in the MINI John Cooper Works at the Nürburgring
    June 18, 2025
  • Trucks & Buses
    Trucks & BusesShow More
    Scania launches MCS rapid charging solution at EVS38
    June 18, 2025
    Daimler Truck and Volvo Group launch Coretura
    June 17, 2025
    Volvo Trucks launches upgraded Volvo Dynamic Steering system to increase road safety
    June 17, 2025
    MAN starts series production of electric trucks
    June 17, 2025
    UD Trucks Southern Africa celebrates dealers breaking barriers at 2025 awards ceremony
    June 11, 2025
  • Reviews
    ReviewsShow More
    THE NEW HAVAL H6 SUV IS HERE, AND IT’S BUILT FOR BIG MOMENTS!
    June 18, 2025
    THE NEW PEUGEOT E-208 GTi MORE PLEASURE. MORE GTi THAN EVER!
    June 17, 2025
    New BMW XM options: maximum exclusivity and breathtaking performance.
    June 12, 2025
    The Audi Q5 e-hybrid: all-rounder with great electric range
    June 11, 2025
    Lotus introduces 2026 Emira V6 SE and Emira Turbo
    June 6, 2025
  • Tech
    TechShow More
    New Kia App provides European drivers with a unified digital experience
    June 17, 2025
    Abbey Road Studios Mode makes global debut in Volvo EX90
    June 17, 2025
    Audi develops the picking process of the future
    June 2, 2025
    Volvo EX90 LiDAR and smartphone cameras: What you need to know
    June 2, 2025
    VNC Automotive Partners with P3 to Enhance the SPARQ OS Platform
    May 29, 2025
Hot News
Commanding performance by Škoda at Rally Poland
Porsche 963 cars raise 600,000 euros in Le Mans towards Racing for Charity
Nissan Formula E Team ready for Jakarta return as Season 11 enters closing stages
50 Years of BMW Art Cars and the BMW 3 Series at the BMW Museum
Ford Performance Returns to Pikes Peak with Electric Super Mustang Mach-E Demonstrator
Latest News

Kia America posts All-Time Best Annual Sales for The Second Consecutive Year

Latest News

SUBARU OF AMERICA APPOINTS MIRANDA JIMENEZ TO PRODUCT COMMUNICATION SPECIALIST

Reviews

The new Flying Spur: The most powerful Bentley four-door ever

Latest News

Nissan reports first-half results for fiscal year 2023

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
598 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

SEAT S.A. and the Volkswagen Group assign more than 75% of the Small BEV project’s material costs to suppliers located in Spain

By Itumeleng Garebatshabe
November 10, 2023
Latest News

Hyundai Motor Reports January 2025 Global Sales

By Itumeleng Garebatshabe
February 4, 2025
Latest News

GWM Sees Record-setting Sales Overseas in the First Nine Months of 2024

By Itumeleng Garebatshabe
October 10, 2024
Latest News

Audi delivered around 1.9 million vehicles in 2023

By Itumeleng Garebatshabe
January 11, 2024
Latest News

Volvo Cars global sales up 31 per cent in May

By Itumeleng Garebatshabe
June 6, 2023
Latest News

Mercedes-Benz Vans sold 105,100 units in Q3 of 2023

By Itumeleng Garebatshabe
October 10, 2023

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