According to What Car? Volkswagen's Spanish subsidiary is pricing its 197 hp FR at $31,910 USD, about $5,630 less than VW's GTI, which uses the same TFSI 2-liter engine.
SEAT announced that an even hotter 240 hp version of the Leon, the Cupra, will debut in July at the British Motor Show.
More photos after the jump!
[Sources: Autoblog Spanish, What Car?]