(AFP / CHRISTOF STACHE)
The Volkswagen group plans to launch its sports brand Cupra in the United States by “the end of the decade”, confirmed Thursday the boss of Cupra and Seat, Wayne Griffiths.
“Cupra will enter the American market by the end of the decade. We plan to launch the brand with the electric version of the Formentor and a larger electric crossover,” launched the boss of Seat SA during the presentation of its results.
The large “crossover” (or SUV) will be produced in Volkswagen Group factories in North America, including Mexico, Mr. Griffiths said.
Cupra will initially be offered in select states on the East Coast and West Coast as well as Southern states. “This launch will be accompanied by a new distribution model,” said Wayne Griffiths.
The Volkswagen group generally plans to return to the North American market, an “essential” priority according to its CEO Oliver Blume, with its subsidiary Scout, which plans to open a battery factory in Canada in 2027.
Under its various brands, Volkswagen plans to introduce more than 25 new electric models through 2030 in the United States.
Cupra, very European at the moment, intends to accelerate its global development from 2024 with the opening of dealerships in Istanbul, Vienna and Manchester.
This year it plans to launch its “largest product offensive to date” including the launch of its second 100% electric model after the small Born, the Tavascan SUV, and the Terramar hybrid SUV.
Seat SA, the Spanish subsidiary which oversees the Seat and Cupra brands, recorded in 2023 “the best financial results in its 73-year history, proof that our company is on the right path to guarantee a more profitable future”, declared Wayne Griffiths.
The company delivered 519,176 cars (+35.3% over one year), including 230,739 Cupras (+50.9%) and 288,437 Seats (+24%).
Annual turnover reached 14.2 billion euros (+35%), with a net profit of 548 million euros.
If Cupra fully embraces the electric shift, Seat will offer more and more plug-in hybrid cars as well as “low fuel consumption models” for all its ranges “until the end of thermal engines”, according to the brand .
“We want SEAT to regain its place, extending last year’s double-digit growth thanks to new investments in the brand and its models. We are also studying what we can offer in the electric world under the Seat brand,” added Wayne Griffiths.