Penske Could Bring Spain's Cupra Brand To The U.S. [Forbes]
Penske Automotive Group, Inc. (PAG)
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Source: Forbes
Renault CEO Luca de Meo will only have himself to blame if Spain's Cupra brand makes it to U.S. auto showrooms before Renault does. After all, it was de Meo who, as head of the Volkswagen Group's Spanish offshoot, created Cupra in 2018, turning the perennial loss-making Seat brand into a profitable part of the group - largely on the back of Cupra. Now the Cupra brand is in talks with the Penske Automotive Group to enter the U.S. market by the end of the decade, with Cupra's former German Managing Director already appointed as Cupra USA Managing Director. Cupra sold just under 250,000 cars last year from a standing start of zero in 2017, and that covers combustion, plug-in hybrid and BEV powertrains. The brand grew from being a performance offshoot of Seat (its name is short for “Cup Racing”) to the point where de Meo launched it as a stand-alone, more-premium brand with its own products, starting with the sporty crossover Formentor. It grew out of its European base with lau
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