The Spanish brand Seat scored an operating loss of 339 million euros in 2020, compared to earnings of 445 million euros posted a year earlier, according to data released Tuesday by the Volkswagen group.
The firm based in Martorell (Barcelona) went into ‘red numbers’ last year, mainly due to the negative effects derived from the economic and health crisis linked to the coronavirus, although its forecast is to regain profitability this year.
Seat was confident in the recovery of registrations at the moment in which the dealerships reopen “normally” and the mobility restrictions end, and also when the vaccination plan advances and the normal supply of semiconductors recovers, since that purchase orders remain at the “prepandemic level.”
At the end of last year, the Spanish company registered a turnover of 9,198 million euros, which represents a decrease of 20% compared to the 11,496 million euros that it entered in 2019.
The multinational marketed 427,000 vehicles in all the markets in which it operates throughout last year, a 25.6% contraction compared to the 574,000 units it registered in 2019. Despite the drop, the firm managed to improve its penetration in “key” markets such as Germany, Italy, Austria, Switzerland, Israel or Turkey.
Teaches CupraFor its part, it closed last year with a global volume of deliveries of 27,400 units, which translates into a progression of 11% compared to the data collected in the previous year.
The company chaired by Wayne Griffiths posted a negative operating return on sales of 3.7%, compared to a positive figure of 3.9% achieved in the previous year. In addition, the company’s vehicle production fell 31.3% annually, to 406,000 units.
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