Seat/Cupra: Wayne Griffiths has the brands under control
CHALLENGE The dead live longer: Seat with Cupra on record-breaking run. The Spaniards in German hands achieved the best result in their 73-year history in 2023. A surprising result.
The company, which many had already written off, has been resurrected: 14.3 billion euros turnover (2022: 10.9), 625 million euros operating profit (2022: 33) and 519,176 cars sold (2022: 385,592). Anyone who presents figures like these is not on their last legs.
CEO Wayne Griffiths knows exactly how it works: "Last year was a year of great challenges for the automotive industry and for our company, in which we navigated through a sea of uncertainty and at the same time underwent the biggest transformation in our history."
Cupra is the growth driver
Despite wars in Ukraine and Gaza, high inflation, logistics problems and increased raw material prices, Seat took off. "In 2023, Seat took a big step on its path to transformation," says CFO David Powels.
Clear: from a low level, 2022 was a miserable year. And also very clear: Cupra was the big growth driver. It increased by over 50 percent and achieved 230,739 sales. This corresponds to almost half of all Seat cars sold. At first glance, this looks like a creeping end for Seat. After all, there will not be a single electric car from the main market in the future, unlike Cupra.
But CEO Griffiths sees things differently: "We can't do everything at once. The top performance of Cupra also benefits Seat. When the time is right, we will come up with an electric solution. Seat has the youngest customers and therefore the brand is ideal for an entry-level e-car model. The best is yet to come. Versporochen"
Center of electrification
The CEO leaves no doubt that our future belongs to e-mobility: "Building emission-free cars is our job!" With Seat, he wants to make sun-drenched Spain the center of electrification in Europe. Seat and VW are investing around 10 billion euros. He is now calling for politicians in Spain and the EU to do their homework and move away from the current overregulation.
For Griffiths, one thing is clear: "There are two options: Actively ensure upheaval - or you get upheaved. We press the pedal to the metal. Now also in the USA. Cupra will enter the US market by the end of the decade. Initially with two electric cars. An electrified Formentor and an SUV specially designed for the USA."
Largest product offensive to date
What else? The Seat Ibiza and Seat Arona will receive a facelift in 2025. The Leon will also be rejuvenated in the course of 2024. It is not yet known how much it will differ from its Cupra twin. The Ateca will also be updated. At Cupra, 2024 marks the start of the biggest product offensive to date: the Tavascan and Terramar will be presented this year (center gallery). And that's not all: updated versions of the Leon and the Formentor will be added in the coming weeks. The Spaniards want to know.
