SEAT's new car shared its body with the Fiat 132, but when launched in May 1973 it featured its own engine options: In 1976, an automatic transmission option was offered, which may have been a response to the success in Spain of the locally assembled, and similarly enhanced Chrysler Two Litre.

[1] From 1979, the SEAT 132 2000 became available, with one four cylinder 1920 cc engine of 109 bhp (81 kW; 111 PS): in due course, one larger 2.2 litre, four cylinder Mercedes diesel version was also offered.

In the beginning of the 1980s, extensive discussions concerning funding and control took place between the major share holder, the Government of Spain, and Fiat: SEAT needed major capital investment, which Fiat was not prepared to inject.

The outcome, by 1982, was an end after nearly thirty years, to the relationship with Fiat.

Already in 1981, Fiat having by now switched to their new model, the Argenta, production of the SEAT 132 ceased, after approximately 100,000 examples had been produced.