SEAT S.A. navigates challenging H1 2025, gains momentum in Q2

• Performance impacted by sales mix, EU tariffs on the CUPRA Tavascan, product costs and intensified competition
• Q2 performance improves despite ongoing industry headwinds
• Company intensifies efforts to accelerate earnings improvement initiatives in H2, focusing on margin quality, cost control, and maximising the potential of its expanded model lineup
• H1 2025 deliveries rose 1.7% to 302,600 units, with BEVs more than doubling year-on-year
• CUPRA delivered record first half with 167,600 vehicles sold; approaches 1 million total sales

Martorell, 28/07/2025. The first six months of 2025 presented a challenging landscape for SEAT S.A., as reflected in the company’s H1 financial results. Four key factors impacted its performance: changes in the sales mix; EU tariffs on the CUPRA Tavascan, manufactured in China; product costs; and intensified competition across key markets. A planned, temporary reduction in production at the Martorell factory, as part of the site’s transformation ahead of production of the Volkswagen Group’s Electric Urban Car family in 2026, also influenced results.

“The first half of 2025 confirmed the challenging environment we had anticipated, with increased market competition and EU import duties on the CUPRA Tavascan impacting SEAT S.A.’s performance,” said Markus Haupt, Interim CEO of SEAT and CUPRA. “We remain actively engaged in constructive dialogue with the European Commission to address this issue and are confident in reaching a positive outcome in the near future.”

Patrik Andreas Mayer, Executive Vice-President for Finance and IT at SEAT S.A., added: “These challenges reflect broader headwinds across the automotive industry. While they have impacted our H1 results, we are still focused on our long-term strategy based on Electrification, Transformation and CUPRA growth.”

Facing future challenges
Despite these pressures, SEAT S.A.’s financial results showed an improvement in the second quarter of 2025 compared to the first. Operating profit rose from €5 million in Q1 to €38 million in Q2, a €33 million increase, signalling positive momentum and a more promising outlook for the second half of the year.

“We are confident in our ability to navigate the challenges ahead,” continued Markus Haupt. “With a strong and diverse product portfolio, including CUPRA’s fully fledged lineup of 7 models, we have a solid foundation for continued growth. We remain fully committed to Electrification, leading the Electric Urban Car family project on behalf of the Volkswagen Group, and preparing for the start of production and launch of the CUPRA Raval in 2026, a major milestone for our company and the car that will help democratise electric mobility across Europe”. 

“As we move into the second half of the year, we remain focused on delivering margin quality, exercising strict cost control, and maximising the potential of our expanded model lineup,” added Patrik Andreas Mayer. “The improved Q2 results show we’re on the right track, and we’re confident in our ability to sustain this positive trajectory.”

Electric vehicle sales soar
SEAT S.A. showed resilience in H1 2025, increasing overall deliveries by 1.7% to 302,600 units (H1 2024: 297,400), despite a planned temporary drop in production of SEAT and CUPRA models at its Martorell plant (244,700 units vs. 291,600 in H1 2024) as part of preparations for the Electric Urban Car family. Production levels are expected to recover in the second half of the year, bringing total annual output close to 2024 levels, a clear reflection of the company’s operational strength and adaptability.

The CUPRA Formentor remained the company’s top seller during the first six months of 2025, with 54,700 units delivered. Electrified vehicle deliveries (PHEV and BEV) surged 76.1%, with BEVs more than doubling (+105.3%), driven by strong demand for the CUPRA Born and Tavascan, underscoring the company’s accelerating electrification strategy.

CUPRA: A truly global brand
During the first half of 2025, CUPRA once again continued its positive momentum, leveraging its fully fledged portfolio of 7 vehicles launched over the past 7 years. CUPRA achieved its best first half ever and between January and June 2025, the unconventional challenger brand delivered 167,600 vehicles, marking a 33.4% increase compared to the same period last year. Since launching in 2018, CUPRA has delivered over 900,000 vehicles worldwide and is on track to exceed 1 million total sales in the coming months.

However, given the ongoing challenges within the automotive industry and in light of evolving market dynamics, CUPRA has strategically decided to postpone its planned entry into the U.S. market, originally scheduled for 2030.

Sven Schuwirth, Executive Vice-President for Sales, Marketing and Aftersales at SEAT S.A., emphasised the brand’s proactive approach: “We’re not stopping, just postponing our U.S. launch and will continue to monitor market developments in the coming years to determine the best timing and approach, aligned with the brand’s long-term vision. In the meantime, CUPRA will build on the strong momentum it has achieved in existing key territories and will soon expand into new high-potential markets to broaden its global footprint.”

Global market conditions are predicted to remain challenging in the second half of 2025, demanding continued agility and resilience. Nevertheless, SEAT S.A. remains firmly committed to its strategic priorities and confident in its ability to adapt in an evolving automotive landscape.

Key H1 2025 SEAT S.A. Figures

Change needs drivers and SEAT S.A. is steering the future of mobility. As the only company in Spain that designs, develops, manufactures, and markets cars, SEAT S.A. is a cornerstone of the nation’s automotive industry and the driving force behind its electrification.

As the company undertakes the biggest transformation in its 75-year history, SEAT S.A. is turning Spain into a European hub for electric vehicles. Through the Future: Fast Forward project, and in collaboration with the Volkswagen Group, PowerCo, and other partners, the company has invested €10 billion into the country’s electrification. The company is also leading the Electric Urban Car project for the Volkswagen Group’s Brand Group Core and will begin producing 100% electric vehicles, including the CUPRA Raval, at its Martorell plant from 2026.

A member of the Volkswagen Group, SEAT S.A. sells vehicles under the SEAT and CUPRA brands including the iconic SEAT Ibiza and the company’s bestselling model, the CUPRA Formentor. With 14,000 professionals and three production centres in Martorell, El Prat de Llobregat, and Barcelona, the company exports over 80% of its vehicles to more than 70 countries.