SEAT return to the path of Benefits, at least in this first quarter of the year. Between January and March 2022, the subsidiary of the Volkswagen group achieved a positive result of five million euros.
The brand explains this improvement by an “optimization” of sales and fixed costs, despite the supply crisis. SEAT would thus have compensated for the fall in sales and the rise in the price of raw materials.
This timid positive result, obtained thanks to greater economic efficiency, cannot hide reality. SEAT sales have dropped significantly.
SEAT sold 31.8% fewer cars (delivered 107,000 units) this first quarter compared to the same period in 2021, at which time it had sold 157,000 units. At the same time, its sales revenue fell by 15.6%, to 2,404 million euros.
Part of the positive result, they explain from the Volkswagen group, is due to the group’s commitment to models with higher added value. It is something that all manufacturers try and that SEAT has achieved thanks to CUPRAa strategy devised in his day by Luca de Meo.
Let us remember that SEAT did not close the year 2021 with benefits. In fact, SEAT recorded operating losses of 256 million euros and thanks to CUPRA they did not go any further, since SEAT’s second brand generated 25% of SEAT’s turnover and its models are the ones with the highest profit margin.
The Volkswagen group doubles its profits
SEAT’s results were published during the Volkswagen Group’s presentation of results. For its part, the Volkswagen group obtained excellent financial results during the first quarter, despite the difficult global environment.
The Volkswagen Group closed the first quarter with net profits of 6,724 millionalmost doubling the 3,414 million it earned in the first quarter of 2021. It represents an increase of 96%.
It had sales revenues of €62.7 billion (+0.6%) and an operating profit before special items of €8.5 billion. The group ensures that it is significantly higher than the previous year and underlines the strength of the business.
Within the group, not all areas and brands have contributed in the same way to these results. volume marks (Volkswagen, SEAT, CUPRA and Skoda) have contributed €900 million operating margin. In front, the brands of the Premium area (Audi, Bentley, Lamborghini and Ducati) have obtained 3,500 million euros of operating margin.
For its part, Porsche (the only brand in the Sport and Luxury area) has been marked an operating margin of 1,400 million euros to her alone. Porsche remains one of the most profitable brands in the world with an operating margin of 18.6%.
Thus, Porsche continues to be the locomotive of the group, while SEAT is now a heavy caboose. A wagon that is slowly transforming into something lighter, boosted CUPRA and parking SEAT.