en:company:Annual Report:Wayne Griffiths on SEAT’s #UnstoppableImpulse COM/EN

2023: a new era begins.


Despite the continuing challenges and uncertain global context, 2023 was a record-breaking year for SEAT S.A.: a year in which we posted our best ever financial results. This success was driven by three key factors.

Firstly, the extraordinary performance of CUPRA. Last year, CUPRA hit an all-time record of 230,000 deliveries, reinforcing its position as one of Europe’s fastest growing brands. Since its launch in 2018, more than 530,000 CUPRA cars have been sold and the brand has become the main driver of our company’s profitability. We have big ambitions for CUPRA and this year, with the launch of the CUPRA Tavascan and CUPRA Terramar we will begin our biggest product offensive to date.

The second driver was SEAT brand’s return to double-digit growth. This was an incredible result after some difficult years caused by the semiconductor shortage.  Our iconic brand is in great health and will continue to play a key role in meeting our profitable growth.

Thirdly, the efficiencies that have resulted from SEAT S.A.’s transformation strategy have created a more robust, agile and profitable company.

We continue to move forward at full speed with our transformation towards electrification, ready for the start of production of the Small BEV family in Martorell. We put Spain on wheels more than 70 years ago. Now we’re getting ready to put the country on electric wheels.

In disruption, you have two choices: to disrupt or to be disrupted. We choose to disrupt. That’s why we launched CUPRA and decided to push early for electrification. Together with two powerful brands and a clear strategy, we are ready to navigate the challenges that lie ahead.