Martorell, 02 May 2025 — SEAT S.A. has reported a resilient start to 2025, achieving record first-quarter revenues and robust delivery growth, driven largely by the ongoing success of CUPRA’s dynamic model offensive. Despite a challenging global backdrop and notable profitability pressures, the company remains firmly aligned with its long-term strategy of electrification, brand differentiation, and sustainable growth.
Between January and March 2025, SEAT S.A. delivered 146,700 vehicles globally — a 5.9% increase compared to the same period in 2024. This growth was spearheaded by CUPRA’s best-ever first-quarter performance, during which the progressive brand delivered 78,300 vehicles, a 38.3% year-on-year increase. Sales were buoyed by the strong market response to new models such as the CUPRA Terramar and the continued popularity of the Formentor, the brand’s top-selling model.
First-quarter revenue climbed to €3.895 billion, up 2.4% from Q1 2024, setting a new record for SEAT S.A. for this period. However, operating profit came under pressure, falling sharply to €5 million, compared to €226 million in Q1 2024. The decline was attributed to a shift in the sales mix towards electrified vehicles, increased European import tariffs on the CUPRA Tavascan — manufactured in China — and intensifying global competition, especially in the electric vehicle space. Consequently, the company’s operating return on sales slipped to 0.1%.
“The solid growth in vehicle deliveries — following CUPRA’s most extensive product offensive to date and significant investments in R&D — confirms the effectiveness of our long-term strategy,” said Markus Haupt, Interim CEO of SEAT and CUPRA. “European import duties on the CUPRA Tavascan adversely impacted our operating profit and return on sales in the first quarter. However, we are working closely with the European Commission to seek a resolution.”
SEAT S.A.’s electrified vehicle deliveries nearly doubled in Q1, growing by a record 95.3% to 37,700 units — up from 19,300 in the first quarter of 2024. CUPRA played a pivotal role in this leap, with EVs accounting for 23.7% of its total sales, driven by the success of the CUPRA Born and the rollout of the CUPRA Tavascan — the brand’s first fully electric SUV.
Patrik Andreas Mayer, SEAT S.A.’s Executive Vice-President for Finance and IT, reiterated the company’s commitment to strategic discipline:
“We anticipated a highly challenging environment and competitive landscape for 2025. In the upcoming months, we will continue to focus on the margin quality of our electrified vehicles as we advance with our cost control programmes. We remain dedicated to positioning SEAT S.A. as an even more sustainable and profitable company.”
CUPRA’s record-breaking month in March — with 34,900 units sold — underscored the brand’s growing relevance in the global market. The CUPRA Formentor led the charge with 26,500 units sold, followed by the new Terramar, which achieved 17,800 deliveries in its first quarter on sale. With nearly one million CUPRA vehicles now on the road, the brand is poised to further expand its footprint.
Meanwhile, SEAT continues to play a crucial role in the company’s dual-brand strategy. As the company celebrates its 75th anniversary, SEAT delivered 68,400 vehicles in Q1 2025. The SEAT Ibiza remained the top-selling model with 24,000 units, followed closely by the SEAT Arona with 20,000 units. Both models are slated for a refresh this year, with design enhancements and technological updates planned.
As SEAT S.A. looks ahead, the road remains complex. The company must navigate geopolitical challenges, rising costs, and stiff competition in the EV segment. Yet, with CUPRA’s surging momentum, an expanding electrified lineup, and a steadfast strategic focus, SEAT S.A. is well-positioned to adapt — and to thrive.
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