2023: sustainable and competitive growth.

Thomas Schäfer

Firstly, I would like to congratulate the SEAT S.A. team for the company’s convincing performance last year. This success has been down to a number of factors, especially CUPRA’s higher unit sales and the positive effects from efficiency improvements carried out throughout the year. With that, SEAT and CUPRA made a valuable contribution to the good Brand Group Core’s overall results.

Together with Volkswagen, ŠKODA and Volkswagen Commercial Vehicles, we are working closely together to achieve joint growth - and to significantly increase the overall efficiency of the five brands. It is very important that we continue on that path.

Times are more than challenging at the moment. I always say “It’s crunch time in automotive industry”. But both SEAT and CUPRA have a clear plan going forward.

SEAT S.A. has already taken important steps. For example, the Future: Fast Forward project, where together with our partners, the Volkswagen Group and PowerCo, we are jointly turning Spain into a European hub for electric mobility with a record 10-billion-euro investment.

SEAT S.A. is also leading the development of the Volkswagen Group’s Small BEV Cluster, democratizing access to sustainable mobility in Europe with electric cars for the Brand Group Core made in Spain.

Work is well underway to electrify the Martorell and Pamplona plants. Next year, the first new electric model on this platform, the CUPRA Raval, will start production, followed by new models from Volkswagen and ŠKODA. And in Martorell, construction of the battery system assembly plant which will assemble the cells that PowerCo will manufacture in Sagunto is at full speed as well.

Despite the challenges ahead, I am convinced we have the right strategy and team in place to reach our ambitious goals.

Now is the time to keep up the pace!