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November 12, 2018

SEAT global sales dip 16.8% in October 2018

SEAT sales continue to post record growth.

By Sam Duke

SEAT sales continue to post record growth. Between January and October, the company sold 449,000 vehicles worldwide, which is 13.7% more than in the same period of 2017 (395,100). This is the best result in the history of the VW Group-owned brand, and it is above the figure achieved between January and October 2000 (433,600 cars). In October, however, sales fell by 16.8% for a total of 33,400 vehicle deliveries. This decline can be explained by the sharp increase in sales prior to the implementation of the WLTP regulation.

SEAT vice-president for Sales and Marketing Wayne Griffiths pointed out that “the October result was expected following the nearly 40% increase in sales in July and August as a result of the WLTP effect. The volume should stabilise in November and we expect to get back on the growth track in the next few months. SEAT aims to close 2018 with double digit growth for the second year in a row and achieve the highest sales volume in the history of the brand.”

SEAT’s worldwide deliveries are making solid progress thanks to the excellent results in the five major European markets. In this sense, between January and October this year, Germany (98,000 vehicles; +16.6%), Spain (93,300; +15.0%), the UK (54,700; +13.1%), France (26,000; +27.9%) and Italy (17,600; +15.7%) posted double digit increases. These countries are leading SEAT’s sales growth together with Algeria, where the brand has already delivered 16,800 vehicles, four times more than in the same period of 2017 (3,900).

Austria (16,900; +11.1%), Poland (10,700; +15.8%), Belgium (8,500; +28.4%) and Portugal (8,500; +23.9%) are four more main markets where SEAT recorded strong growth between January and October.

The increase in sales boosts operating profit

SEAT said the sales record is also reflected in the financial results. Between January and September 2018, SEAT’s operating profit rose by 54.4% to stand at the record figure of EUR237m (EUR154m between January and September 2017). Higher profit margins as a result of increased sales of upper segment vehicles and better equipped models contributed to the profit increase. Furthermore, revenues went up by 6.7% in this period to stand at EUR7.744bn (2017: EUR7.255bn), the highest turnover in the history of SEAT.

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