WAYNE GRIFFITHS
In 2024, the global automotive industry faced a series of important challenges in a year marked by unstable economic conditions, intense competition and a growing reluctance to fully commit to electric vehicles in Spain and across Europe.
That’s why the record profit of 633M€ and 7.5% sales growth we achieved in 2024 are even more remarkable and represent great news for the company. These positive results reflect the strengthening of our business model alongside the continuing performance of both our SEAT and CUPRA brands, which continue to drive growth, despite global headwinds.
CUPRA continued to write automotive history, surpassing 800,000 vehicles sold since its launch. In 2024 we launched our biggest product offensive to date, completing a full range of seven models in seven years. Meanwhile, we extended the brand’s globalisation and took significant steps ahead of our entry into the US market by the end of the decade.
Of course, 2024 was also key for electrification, with the drive to transform our Martorell facilities. We prepared line 1 to host the Electric Urban Car family project, which will be launched in 2026 starting with the CUPRA Raval. If we add to this the cultural transformation of the entire company and a more agile way of working, we are in the best position to look to the future with confidence.
Despite these positive results, the overall picture remains complex. At SEAT S.A., we aim to be at the forefront of that transformation. Our strategy and objectives are firm and unchanged, and we know that there is no Plan B when it comes to electrification. To succeed, we must be flexible and agile, listening to the customer needs, while having the ability and speed to react swiftly to the market demands.
The road ahead will be challenging. But challenges bring opportunities— and at SEAT S.A. we are fully committed to a strategy and a mindset that will help us take advantage of those opportunities and play a key role in the automotive industry of the future.
Together, we will continue to drive change. Because Change Needs Drivers.