Spain's SEAT Announces Favorable Growth in First Half Sales

09/05/96

Reuters reported that Spanish carmaker Seat--a subsidiary of Germany's Volkswagen AG--saw good growth in sales through the first seven months of 1996. Seat Sales to western Europe exceeded 195,000 units between January and July, growing by five percent. The company's sales to eastern Europe jumped 57 percent to more than 12,600 vehicles during the same period.

Seat's vice-chairman Utz Claasen said in May that the company wanted to end its restructuring process in 1996 and hoped to return to profit in 1997. The company lost 11.2 billion pesetas in 1995, showing improvements over the 29.5 billion peseta loss it saw in 1994 and its record 151.3 billion peseta loss in 1993.

Paul Dever -- The Auto Channel