Skoda Sells 8.4% More Cars and Profits Up 9%

While VolkswagenVolkswagenGermany, 1938 > present98 models
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Group announced its quite robust first half of the year financial information yesterday, its subsidiaries are beginning to release their own individual reports. For the first half of the year, SkodaSkodaCzech Rep., 1895 > present57 models
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sold 493,000 vehicles worldwide up 8.4% over the same period last year. Revenue was up 6.6% to €5.7 billion. Profit was up 9.0% to €449 million.

“Skoda growth strategy has led to positive results in the first half of this year. We have grown in all relevant fields, thus creating a good base for the second half, which will be challenging for the automobile industry because of the economic situation in Europe,” said Skoda CEO Winfried Vahland.

Skoda has also been investing in the future. In the first half of the year, it invested €217 million compared to €80 million in the first half of 2011. The company has €1.92 billion net liquidity compared to €2.008 billion in the first six months of 2011.