Re: Volkswagen Group to discontinue multiple models; To focus on premium market going forward Volkswagen to axe brand SEAT.
Thomas Schafer, the CEO of Volkswagen Passenger Cars, confirmed that the brand will stop selling cars once the current line up finishes its life cycle.
Meanwhile its sister brand Cupra continued to climb in the European ranking with more expensive models, hence more profits for the group. The success of the Cupra Formentor was the key element to take this decision.
Between January and July 2023, Seat was the 19th bestselling brand in Europe with 155,355 units up by 13%, whereas Cupra was two positions behind with 111,829 units, up by 47%. The Cupra Formentor sold more than any other Seat model.
The move is wise: more potential, higher prices, and more profits. |