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Seat : Business Results 1998 In the automobile industry, the good Spanish economy was reflected with record sales and registrations. The registrations of passenger cars in the national market were 1,192,843 units, up 17.6% throughout 1997. During 1998, the Spanish economy showed a strong growth curve. The GNP grew by 3.8%, one of the highest percentages in the European Union, despite the uncertain global situation caused by the international financial crisis. The positive economic evolution was favored by a solid internal demand. Investment was accompanied by a strong job growth, a moderate inflation, a decrease in interest rates and control over the public deficit.
Seat Bolero For SEAT, 1998 has been an exceptional year for economic, commercial and sports results. In 1998, SEAT achieved new record numbers: 500,500 vehicles were manufactured for SEAT and Volkswagen, 546,809 units were sold with a turnover of 827,534 million pesetas. The profit grew to 24,462 million. An increase in our production capability, sales, work flexibility caused the number of employees to grow by 1,391 people SEAT successfully took advantage of the favorable economic situation and the pull of the passenger car market to reach these magnificent results, increase its profitability and strengthen the financing with in-house resources for investments made principally in R+D. This makes the launching of high quality products on the market possible. Furthermore, it has reinforced its position in the European market as a young and sporty brand with its own identity within the world-wide Volkswagen Consortium. Throughout this year, the brand celebrated two very important events in the productive and commercial realm. In May, the Martorell plant began the production of the Arosa model. In October, the new Toledo came out and its marketing started in December. This new model represents another important milestone in the history of this company standing as a symbol and image for a new generation of products which will slowly be identified with all the models of this brand. Throughout 1998, SEAT successfully reached the highest production rhythm in its entire history. The Martorell plant reached a monthly maximum of 2,229 vehicles per day with an average of 60 cars per employee and year which positions it among the most efficient in Europe. SEAT is on its way to becoming the leader of passenger cars in the Spanish market, the second leading brand per registered units, and expand its international horizons beyond the 61 countries where it is currently operating. The field of car races, represented by SEAT Sport, contributed to the success of our brand. The third and consecutive Rally World Championship title, won by Ibiza Kit Car in the 2 liter category, is a recognition of the Company's commitment to innovation, research and the future. A wager which was reinforced with the Córdoba WRC (World Rally Car) took its first steps in 1998 with this top race. source : Seat
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