A semester to frame for Seat SA, which closes the January-June period with growth, setting a new record in the history of the Spanish group. The company recorded an operating profit of 406 million euros (1st half 2023: 371 million euros, +9.4%) and the return on sales also increased, reaching 5.2% (+0.2 pp compared to January-June 2023). The total turnover of Seat SA reached 7,752 million euros, with an increase of 4.6% compared to the previous year (7,411 million euros).
Griffiths’ comment
“Our efforts to improve on our good performance have led us to achieve our best ever results in the first half of the year, a remarkable achievement considering the current context,” said Wayne Griffiths, CEO of Seat and Cupra. “Both brands are stronger than ever and deliveries continue to increase. As we accelerate our electrification journey, we are expanding our range with new models arriving this year,” he continued.
Seat results
Steady growth in deliveries drives financial results The continued increase in deliveries of the Cupra and Seat brands has driven the sustained growth of Seat SA’s financial results. The company delivered a total of 297,400 vehicles between January and June, an increase of 13.8% compared to the first half of the previous year (H1 2023: 261,400). Sales of electrified vehicles grew to 45,900 units, 36.1% more than in the same period of 2023 (33,800), thanks to the huge success of plug-in hybrid vehicles.
Cupra sales
Cupra continues its record-breaking journey by recording the best first half of its history with 125,700 vehicles delivered, a 17.2% increase compared to 2023 (107,300). A success that in the month of June alone led the brand to reach 27,500 deliveries. Since its launch in 2018, Cupra has delivered more than 650,000 vehicles, contributing to the constant increase in Seat SA’s results. Cupra Formentor remains the company’s best-selling model with 61,700 units delivered in the first six months of the year. The Cupra Leon family follows, with 36,000 deliveries, an increase of 59.8% compared to the first half of 2023. The arrival of the new versions of both models should further strengthen the brand’s position in Europe, where Germany maintained its position as the leading market with 42,000 vehicles delivered (+30%), followed by the United Kingdom (13,900; +22%) and Spain (12,900; +13%). The SEAT brand consolidated its position as a key lever for the company and maintained double-digit growth. Between January and June, Seat delivered 171,700 vehicles, 11.4% more than in the same period of the previous year (154,200). The iconic Ibiza, which celebrates its 40th anniversary this year, leads Seat sales with 56,300 units delivered (+29% compared to the first half of 2023), followed by the Arona with 50,400 deliveries. Spain remains the brand’s main market (36,200; +2%), followed by Germany (35,200; +26%) and the United Kingdom (21,300; +34%).
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