AM Online

Seat in the black

Seat made 423,599 cars and £138m profit in 2002, according to its year-end results posted yesterday.

Although overall sales were down 5.7 per cent at 460,027 units, results in its two key target markets have improved. In the UK sales were up by 8.5 per cent in an overall market up by only 4.6 per cent, and in Germany they were up 4.3 per cent in a market down by 2.6 percent.

Seat President, Dr Andreas Schleef says: “This is very positive result in view of the downturn in the European car market generally and the major investment programme Seat has embarked upon for the development of future products. This programme includes a new and innovative model to be built at the Martorell plant near Barcelona.”

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