Czech carmaker registers 18% YoY growth; all-electric Enyaq series sales up 47%; entry into the Vietnamese market marks milestone in internationalisation strategy.
28 Oct 2023 | 7603 Views | By Autocar Professional Bureau
Skoda Auto has reports consistent growth throughout the first three quarters of the year, recording positive results across all key financial indicators. The automaker’s operating profit stands at 1.26 billion euros, marking a 47.2% increase compared to the same period last year, while the return on sales increased to 6.4% ...
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Skoda Auto has reports consistent growth throughout the first three quarters of the year, recording positive results across all key financial indicators. The automaker’s operating profit stands at 1.26 billion euros, marking a 47.2% increase compared to the same period last year, while the return on sales increased to 6.4% (2022: 5.6%).
A key contributor to this positive trend has been the robust sales performance of the all-electric Enyaq series. Globally, Skoda delivered 642,200 vehicles during this period. At the same time, the automaker is advancing its internationalisation plan: As the strategic leader of the Volkswagen Group’s Brand Group Core in ASEAN, in September, Skoda entered the Vietnamese market – a gateway to the entire region.
Klaus Zellmer, CEO of Skoda Auto, said: “Skoda Auto continues to steer a successful course. The development of our operating profit, climbing more than 47%, speaks for itself. However, the past three years in particular have shown that the markets are developing increasingly dynamically. Despite all our confidence, we will remain vigilant. That’s why we are continuing to channel our efforts consistently into ensuring that our company is ideally positioned on the international stage.”
Martin Jahn, SkodaAuto Board Member for Sales and Marketing, commented: “Our deliveries in the first nine months underscore the global appeal of Škoda’s modern model range. Demand for the Enyaq series has increased particularly strongly, with deliveries up 47.6 percent on the previous year. 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.”
In the first nine months of 2023, Skoda demonstrated considerable financial strength. The return on sales remained stable at 6.4%, even after accounting for the cessation of activities in Russia. Operating profit during this period rose to 1.26 billion euros, recording growth of 47.2% over the previous year. However, a recent supply chain disruption from a Slovenian supplier may impact earnings for the rest of the year.
Octavia remains best-seller
The all-electric Enyaq series has been a key contributor to this success, gaining significant traction in countries like the Czech Republic, Slovakia, Finland, Austria, and Switzerland, where it ranked among the top three best-selling electric cars between January and August 2023.
By September, Škoda Auto’s global deliveries totalled 642,200 vehicles – a year-on-year increase of 97,700 units.
With 145,000 units sold, the Octavia continues to be the brand’s bestseller, achieving a year-on-year increase of 35.8%. The compact model represents over a fifth of Škoda’s total global deliveries. Other models, such as the Fabia and Kamiq, Kodiaq and Karoq SUVs, also experienced strong demand.
Škoda brand deliveries to customers in the first three quarters of 2023
| Škoda Octavia | (145,000; +35.8%) |
| Škoda Kamiq | (85,300; +16.7%) |
| Škoda Kodiaq | (81,200; +13.9%) |
| Škoda Karoq | (75,800; +23.5%) |
| Škoda Fabia | (70,000; +0,3%) |
| Škoda Enyaq | (54,400; +47.6%) |
| Škoda Superb | (50,400; +11.4%) |
| Škoda Scala | (43,300; +45.6%) |
| Škoda Kushaq | (19,300; -1.4%) |
| Škoda Slavia | (14,100; -8.3%) |
| Škoda Rapid | (3,300; -78.8%) |