Seat earns 226 million euros, an increase of 57%, achieving the best results in history in a first quarter

Seat earns 226 million euros, an increase of 57%, achieving the best results in history in a first quarter

Seat earns 226 million euros, an increase of 57%, achieving the best results in history in a first quarterArchive/ACN/Laura Boss

SEAT achieved 226 million euros between January and March. 57% more than last year, and it happens Best results in history in the first quarter The Martorell-based car company attributed this increase in profits to… Growth in volume and improvements in efficiency. In the first three months, revenue exceeded $3.8 billion, an increase of 6.8%. In contrast, operating return on sales increased from 4% to 5.9%. Total group deliveries rose 10.6% to 138,600 units. Especially for good behaviour Cobra brand Which delivered 56,600 cars, 21.4% more, and broke records in the first quarter. In contrast, SEAT recorded 81,900 deliveries, an increase of 4.3%.

Apart from the increase in volume, operating return on sales increased from 4% to 5.9%. He explained: “We achieved the best results in our history in the first quarter, which is very positive news given the many challenges and the very competitive environment of 2024.” Wayne GriffithCEO of Seat and Cupra.

The top director of the auto industry confirmed that the two brands “remain strong and are increasing deliveries.” In March alone, Cobra delivered 23,800 vehicles, the best monthly result on record. The Cupra Formentor, the brand's most popular model, strengthened its position with 28,900 units delivered between January and March, an increase of 3.5% over the same period last year. Overall, it was the Cupra Leon family that achieved the greatest growth with 15,900 vehicles delivered (+107%).

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As for the SEAT brand, the Ibiza, which celebrates its 40th anniversary this year, leads the brand's sales with 25,700 units delivered between January and March (+8.5%).

The increase in sales contributed to raising the market share of Cupra and Seat in Western Europe From 3.5% to 3.8% in the first quarter of 2024. Hybrid car sales rose by 122.3% to 12,300 units.

The car manufacturer indicates that the results of the first three months of 2024 are good, but warned that “the global economic context forces us to focus more on our strategic priorities.” “Managing revenues and improving efficiency, while working on an attractive model portfolio will be critical to achieving our goals,” said David Bowles, Executive Vice President Finance and IT at Seat.

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