They are absolutely at the bottom of the foot chain at the Volkswagen Group. But that does not mean that Spanish Seat is a bad business. In fact, the brand has never had a better six months.
In the Volkswagen group, the ranking is: Audi, Cupra, Volkswagen and Skoda, for Seat is the raisin at the Polish end.
But that does not mean that the small Spanish brand, which has been rumored to be killed several times, is a bad business. On the contrary.
For the Spaniards, who have their headquarters in Martorell near Barcelona, earn well with money. In fact, accounting-wise, the brand has never had a better half-year than can be noted after six months of 2024.
This is what the Danish importer writes in a press release .
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Out of a turnover of 7.8 billion euros in the course of the six months, there is 406 million euros left in the operating profit.
This is an increase of 7.8 percent compared to the same period in 2023 and better than Seat has ever done it for. A total of 297,400 cars were delivered, which is an increase of 13.8 percent.
– Our dedicated work to further strengthen our performance has propelled us to our best ever half-year result, a remarkable milestone in the current context, says Seat's managing director Wayne Griffiths.
It is especially the plug-in hybrids that have pulled the accounts in the right direction. In the face of Boosted, the Danish Seat importer has previously lifted a bit of the strategy that should turn out to be an accounting success.
– Seat will henceforth be operated in a traditional way with good offers on cars with a combustion engine. Many Danes still want to be able to buy cars for around DKK 150,000, and Seat must be able to offer that – also in the future, it says.
Seat – or Sociedad Española de Automóviles de Turismo SA – was founded in May 1950 in what was then Franco-Fascist Spain.
For many years, the brand built cars under a license agreement with Fiat. But the agreement gradually fell apart when it became clear to Seat's largest shareholder, the government of Spain, that Seat lacked money. The solution was that Volkswagen bought the first parts since all of Seat in December 1990.
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