The operating profit of Škoda Auto for the first nine months of this year fell to EUR 856 million (CZK 21 billion) from last year’s comparable EUR 900 million (CZK 22 billion). Sales for January to September rose to 15.151 billion euros (CZK 371 billion) from 13.329 billion euros (CZK 326.4 billion) last year. Parent group, Volkswagen, said in its earnings report on Friday.
Previously, the automaker reported a 22.3 percent year-on-year drop in sales to 544,500 vehicles from January to September. It did, however, rise by 20.3 percent in September alone.
Škoda Auto has three manufacturing plants in the Czech Republic. Still, it also has operations in China, Slovakia, and India, primarily through group partnerships, as well as in Ukraine and Kazakhstan, in collaboration with local partners. It operates in more than 100 markets. Earlier this month, it announced it was entering the Vietnamese market, with European models to be offered next year.
The Volkswagen Group is the largest car manufacturer in Europe. In addition to its flagship brand, Volkswagen also includes several other brands. In addition to Skoda, these include Audi, Porsche, Seat, Bentley, and Lamborghini, truck maker Man, and motorcycle manufacturer Ducati.
Skoda Auto plans to launch three new pure electric models by 2026, with more to follow. The share of pure electric cars in the brand’s European sales is set to rise to more than 70 percent by 2030.