700 million Euros for Seat
posted: Tuesday 29 November 2005 by Luca in: Seat
So. It seems that rumors of Seat’s demise (or incorporation into Audi, or a sale to a Chines producer) were exagerated.
Volkswagen has promised an investment of 700 million € in three years, to restructure and revitalize the spanish brand. The project is called “Nueva Seat”.
What isn’t known at the moment is how great a part of these 700 million is going to be used to develop new models and how much is going to be used to ease the pain of the 1,400 redundancies that Volkswagen Group believes to be necessary because of Seat’s slowing sales in recent years (from 516.000 vehicles in 2000 to 390.000 in 2005).
[From Auto Motor und Sport]
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