Car manufacturer SEAT might belong to Germany's VW Group but the company's chief executive told CNBC that it has retained its own identity and sense of innovation that has enabled it to return to profit in the region.
SEAT has a long history of car manufacturing in Spain, having been founded by the Spanish government in 1950. After a long partnership with Italy's FIAT, it was bought by Germany's VW Group in 1990. After struggling during Europe's recent financial crisis, SEAT returned to profit last year for the first time since 2008.
The company's Chief Executive Luca de Meo told CNBC that the company's owner had allowed it to keep and develop its own identity.
"It has always been the strategy of the VW group to respect the cultural identity of each one of the brands we work with. Every brand has its own strategy, own product and branding," De Meo told CNBC on Wednesday.