Higher growth, higher margins, electric future. Cupra is definitely the brand on which Seat is pinning its hopes for the future, both in growth and profitability. When
Cupra was launched in 2018 like Seat’s sports brand, few could have imagined that in less than five years the bet would change from a complementary offer to determining the growth axis of the car company based in Martorell (Barcelona), a development that the management of the company ensures that in no way does it threaten the future of Seat, on the contrary, what it does exactly is take care of it.
The company confirms this this afternoon in the old circuit of
earth sea (Sitges), the setting where Cupra was born in 2018 and where today the cards reserved for the company until 2025 and beyond are shown: three new models and continued sales growth to 500,000 ‘cupra’ that will be available in the medium term. delivered annually, a figure that comes close to the historic record of 540,000 cars sold by Seat in the pre-pandemic 2019.
The numbers speak for themselves. If so far
Cupra has delivered almost 200,000 units and its turnover has increased from 430 million euros in 2018 to almost 2,200 million euros in 2021 – “figures far above all expectations”, they urge management -, the progression for the coming years is accelerating, with the forecast of a doubling turnover and turnover already in this exercise. “Our medium-term goal is to deliver 500,000 cars per year and drive our international expansion into new markets and new segments,” said Wayne Griffiths, CEO of Seat and Cupra this afternoon, without specifying the sales mix of Seat and Cupra models. is expected for that year. For now, the company emphasizes, the key is to have a project for the future and to lay the groundwork for recovery: in this first quarter of 2022, thanks in part to the higher margins of Cupra – a brand from which it will deliver one car for every three Seat- has returned to profitability after the past two years in the red.
Cupra’s acceleration in recent years can be explained by its excellent reception in international markets – Germany, for example – and especially in models such as the Formentor, the successful crossover SUV that is the company’s bestseller with 100,000 vehicles delivered. It is also understood by the clear commitment of the group, which in times of difficulties -Covid crisis, lack of supply of semiconductors…- has decided
give priority to Cupra against Seat because of its increased profitability.
The path had already been mapped out when management decided in an important decision at the time that the first
100% electric model of the Spanish car company, de Born, was sold under the Cupra decal and not Seat, leaving some of the staff concerned about the future of the historic company. It’s clear that things will go in the same direction for years to come, as the agency confirmed today at an event with more than 600 guests. The future of Seat is written by Cupra.
The offensive of new models is important. The biggest novelty to emerge this Tuesday – in an act with more than 600 guests, including the President of the Generalitat, Pere Aragonés, that of Navarra, María Chivite and the Minister Raquel Sánchez – is the launch in 2024 of the baptized as
cupra earth sea, a plug-in hybrid sports SUV that will mark the debut of Cupra in the segment that is growing the most in Europe. It will be produced in Hungary, at Audi’s plant in Györ. The Terramar will be available with internal combustion engines, as well as a new generation of plug-in hybrid powertrains offering a range of approximately 100 kilometers in pure electric mode, the company said. Also in 2024 the will launch
Tavascan, a “coupè” SUV that will be the company’s second 100% electric model. Industry sources say it could be manufactured in China.
Both the Terramar and the Tavascan will be the prologue to
2025, when it is trusted that Cupra will make its final leap in scale with the electric urban vehicle that Seat leads, both for Cupra and for the rest of the Volkswagen group’s brands. “The Cupra UrbanRebel -provisional name- will be our company’s biggest project in the coming years, as it is key to our transformation into an all-electric brand,” confirms Griffiths about a vehicle that will enhance the industrial continuity and electrification of the Martorell factory must guarantee. and the development of which goes hand in hand with the Electric and Connected Vehicle business, which in turn includes the new battery plant in Sagunto (Valencia).
“The
UrbanRebel it’s more than a car for Cupra. It is the model that will democratize electric mobility in the city. Emotional, sexy, fun to drive and at the same time accessible, we show that electric cars don’t have to be boring. This will be the entry-level model of our future range,” emphasized Griffiths during the event.
Source: La Verdad
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
