Spain-based automaker Seat considers building cars in Mexico using facilities owned by Volkswagen, its parent company, company’s executives revealed in recent days.
Seat aims to expand its business in Latin America in the next decade as part of a plant to stabilize earnings by reducing its reliance on Europe.
“Making Seat vehicles in VW Group production facilities in Mexico could provide access to more Central and South American markets,” said Luca de Meo, CEO of Seat, at the brand's annual earnings press conference.
Seat was founded in 1950 as an assembler of Fiat models and bought by Volkswagen in 1986. The brand sells more than 90% of its vehicles in its home region, according to Automotive News.
In Mexico, Seat sold 2,700 cars during January 2017, a 16.3% increased compared to same month of 2016.