Seat Announces First Profitable Year Since 2008

VW Group’s Spanish brand last year returned to profitability for the first time since 2008, posting an after-tax six million euros profit.

The results were today,with the company also announcing a turnover of 8.3 billion euros, 11 percent more than the previous year.

This was Seat’s best ever result and double the revenue posted in 2009. On average, the it has increased earnings per vehicle by 3.5 percent, while investments and R&D costs totaled 586 million euros, 28 percent more than 2014.

“Progress in 2015 was twofold – not only did we obtain a positive result for the first time since 2008, but we achieved it during a year of major challenges,” said Luca de Meo, President of the SEAT Executive Committee. “We are implementing the right strategy that enables us to face the challenge of sustaining long-term profitability with optimism.”

Seat is currently launching the Ateca, the first SUV in its history. It made its first appearance at the Geneva Motor Show and is expected to assist the brand into maintaining its momentum in the market.

PHOTO GALLERY

Europe’s 2020 Toyota Yaris Shows Its All-New Face Ahead Of Imminent Reveal

First images reveal the design of the all-new Toyota Yaris/Vitz for Europe, Asia and other markets.

Mercedes-AMG C63 S Driver Runs Out Of Talent And Into A Tree

This W205 Mercedes-AMG C63 S crashed while leaving an event at a convention center in Rotterdam, Netherlands.

Mazda Teases Interior Of Its First Production Electric Car

Mazda’s first-ever production EV will be a subcompact model packing the latest technologies and sustainable materials.

The Hyundai i30 Fastback N Is Already Getting A Facelift

The tweaked Hyundai i30 Fastback N will include revised headlights, taillights, and bumpers.

Faraday Future’s Troubled Founder Files For Bankruptcy In The U.S.

Jia Yueting needs to repay more than $3.6 billion to over 100 creditors following the collapse of LeEco.

2021 Genesis GV70 Compact Luxury SUV Shows Production Body For The First Time

The Genesis GV70 will go up against the Audi Q5, BMW X3, Mercedes-Benz GLC and the like.

Ford Recalls 2019 Rangers Over HVAC Fire Risk

This is the second recall to impact 2019 model year Ford Rangers in the U.S.

Musk Says Tesla Pickup Will Be Like A Futuristic “Armored Personnel Carrier”

The Tesla pickup truck is shaping up to be unlike any other truck on the market.

2021 Hyundai Tucson Drops Heavy Camo To Reveal Sporty Body

The all-new Hyundai Tucson will feature a more raked roofline and coupe-like window line.

Volkswagen Delays Final Decision On New Turkish Car Factory Over Syria Invasion

VW is postponing their decision as criticism grows over Turkey’s ongoing military operation in Syria.