The strategy focuses on three main pillars: developing models in growing segments with a high profit margin based on its success with the Leon; prioritising customer satisfaction and being the most attractive employer in the automotive industry in Spain.

The company added that it is on track to launch four new models in the next two years, with the first, a compact SUV, expected in the first half of 2016 and marking the brand’s debut in this segment.

Chairman Dr Francisco Javier García Sanz said: “Now is the time to act with a view to the medium and long term, regardless of recent weeks’ news. The Volkswagen Group has full confidence in our plan for the future and it is perfectly integrated in their strategy. The models we have announced for the next two years will reach the market as scheduled and will contribute to SEAT’s sustainable growth. And they are just the first step of this strategy.”

The company also presented an efficiency programme, called LEAP, to be rolled out over the next two years. This includes the allocation of investments to adapt the Martorell plant’s Line 1, where the Ibiza range is produced, to a new platform, believed to be the new MLB architecture.

The programme, which is expected to generate annual cost savings of around €100m, will also enable the company to streamline processes, eliminate any expenditure that does not affect the company’s core business operations and focus on value-adding activities.