After Porsche announced an increase in car sales in the first nine months of 2023, another European manufacturer is recording positive results. According to data for this year, the Czech car manufacturer Škoda achieved a production growth of 14.6 percent (777,500 cars), but also an operating profit of 47.2 percent to 1.26 billion euros.

“The solid trend in the first nine months of 2023 is the result of dedicated and persistent work by our team at Škoda, including our dealer organization that is the face of our brand to customers. Thanks to this performance and our robust business model, Škoda Auto continues to steer a successful course,” said Škoda Auto CEO Klaus Zellmer.

Škoda also increased sales of electric cars by 29.5 percent to 19.6 billion euros, and the highest demand was for Škoda Enyaq (+47.6%). Škoda’s expectations were much higher, but the result was significantly affected by the suspension of operations in Russia. It was primarily necessary for the company to stabilize its supply chain, after which return on sales rose 0.8 percent each year to 6.4 percent.

“By investing over 500 million euros in tangible assets like periodic IT infrastructure upgrades, we have laid the groundwork for our upcoming digital offerings. Additionally, our focus has been on enhancing our BEV portfolio to meet customer needs and intensify our sustainability initiatives. Nevertheless, as we approach the year-end, we anticipate challenges and remain committed to ensuring 2023 concludes successfully,” said Škoda Auto member of the Board of Management for Finance, IT and Legal Affairs Holger Peters.

Since January, Škoda has delivered 642,200 cars worldwide, which is 17.9 percent more than in the same period last year. The best-selling model was Škoda Octavia with 145,000 vehicles (+35.8%). “Sales of the Kodiaq and Superb also increased, and the upcoming generation of these models will add yet another chapter to their success story. With dynamic design, modern technology and even more interior space, they are sure to impress existing and new customers alike, ” said Martin Jahn, Škoda Auto Board Member for Sales and Marketing.

Currently, Škoda is working on expanding to other markets around the world, and in September it expanded its presence in the Vietnamese market, which is strategically important for the company to enter the market of the ASEAN region.

Source: Škoda