Cupra Considering North American Entry In Its Vie To Global Expansion
SEAT’s performance sub-brand plans to maximize its growth by exploring other markets.
Cupra, SEAT’s performance sub-brand since 2018, has set an ambitious goal to become one of the Top 100 Best Global brands by 2030. To achieve this, Cupra is focusing on six key areas for growth – one of which is the brand’s globalization. This year alone, Cupra is planning to open new boutiques known as City Garages in Berlin, Madrid, Manchester, and Paris. The company also plans to add 500 new expert sales and service personnel called Cupra Masters in 2023, taking the total to 2,000.
But perhaps the most significant part of Cupra’s globalization strategy is the marque’s potential entry into North America. According to the automaker, it’s currently analyzing the move and testing the brand with potential clients with promising and positive results so far.
Cupra experienced significant sales growth last year with over 150,000 vehicles delivered, almost doubling its sales compared to the previous year. The Cupra Formentor, the brand’s first standalone model, was the biggest contributor to the brand’s numbers, accounting for 63.8 percent (97,600 vehicles) of all sales. The Cupra Born, in its first full sales year, achieved 31,400 deliveries.
Overall Cupra sold 152,900 units in 2022, representing a 92.7 percent increase from 79,300 in the previous year. However, despite the success of Cupra, SEAT saw a decline in overall sales compared to the previous year. SEAT’s sales fell by 18.1 percent to 232,700 vehicles in 2022.
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Germany was Cupra’s largest market in 2022, selling 58,400 vehicles, or an 89.9 percent increase from the previous year. Spain led SEAT’s sales, with 49,200 cars sold, representing a 30.4 percent decrease.
Cupra is set to launch its biggest-ever product offensive, which will begin in 2024 with the release of the Tavascan and Terramar, followed by the Cupra UrbanRebel in 2025. These new models will enable the brand to enter new segments and markets, with the aim to hit its mid-term goal of selling 500,000 cars annually.