Škoda Auto increased profits by 48 percent last year

Jan Handrejch

Last year, Škoda Auto increased its unconsolidated net profit by 48 percent to CZK 22.41 billion. Unconsolidated sales decreased by 0.4 percent to CZK 422.6 billion. The company announced the results at a press conference on Tuesday and its annual report. The carmaker expects a significant strain on operations this year due to the war in Ukraine and disruptions in the supply of some parts.

Due to semiconductor shortages and the coronavirus pandemic, the automaker delivered 878,200 vehicles to customers worldwide last year, a 12.6 percent decrease from the previous year. The chip shortage caused Skoda not to produce 280,000 cars. The increase in profitability is due to a focus on selling cars with higher margins.

With 200,800 cars, the Octavia was again the best-selling model, followed by the Kamiq SUV category with 120,700 vehicles and the Karoq with 119,200 vehicles. The brand’s first model based on the modular MEB platform entered the market in the form of the Enyaq iV, which sold 44,700 units.

The new Enyaq Coupé iV, the upgraded Karoq, and the Fabia Monte Carlo will reach customers in 2022.

Skoda’s most significant market was Western Europe, where it delivered 409,000 vehicles, down 5.9 percent year-on-year. The company’s most significant decline was in China, where sales fell 59 percent to 71,200 cars.