- Nine-month operating profit of €6 million.
- Operating profit down 59.3% year on year.
- Sales revenue of 11.1 billion euros.
- CUPRA delivered more than 250,000 vehicles.
- CUPRA Raval took more than 51,000 orders.
Faster-than-expected growth in battery-electric sales has cut deep into the earnings of SEAT & CUPRA, which posted an operating result of €6 million between January and September 2026, down 59.3%. Sales revenue for the period fell 1.2% to 11.1 billion euros.
After first positive contributions from its ELEVATE strategy and Performance Program in the first half, the company said the third quarter became significantly more demanding. Competitive pressure, geopolitical volatility and regulatory uncertainty in Europe all played a part.
Electric vehicle margins under pressure
According to ACEA figures, BEV registrations in Germany climbed 58.1% to 604,144, a 27.2% share. France rose 79.1% to 387,342 and Denmark reached an 81.7% share with 124,049 units. Across the EU, registrations grew 48.5% to 1,931,465.
The company now has to reach margin parity between electric and combustion models while more profitable ICE sales decline. Launching the updated CUPRA BEV range in 2026 also required heavy investment, and income from selling CO2 credits within the group has shrunk because other brands now exceed their targets too. CEO Markus Haupt said the business must now “focus and work on improving our margins for fully electric vehicles”.
Finance chief Patrik Andreas Mayer warned that low profitability and cash generation are “seriously threatening our ability to invest in our future”, adding that all planned investments will be critically reprioritised.
ELEVATE strategy and Martorell production
In response, the firm is accelerating ELEVATE, built on operational excellence, value creation and CUPRA growth, and stepping up cost controls. At Martorell in Spain, following the launch of the ID. Polo and CUPRA Raval, the focus is on ramping production towards full capacity, safeguarding long-term jobs and securing an additional platform for the plant.
CUPRA Raval orders and Middle East plans
CUPRA delivered more than 250,000 vehicles in a record nine months as it works towards a 3% share of the European market. The Raval collected more than 51,000 orders between April and September, the most successful launch in the brand’s history and its best-selling model since April. The brand also plans to enter the Middle East.
Difficult conditions are expected to continue beyond 2026, and the company says it will keep enforcing strict cost discipline while delivering on its roadmap.
Supplied by Newspress UK (SEAT | CUPRA)
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