Skoda Profit Leaps Sky-High
Czech auto company is on a roll
By Brendan Moore
Skoda, the Prague-based Czech subsidiary of VW, Europe’s biggest car company, just seems to do everything right lately. They have successfully staked out the value segment of the European market, and have not put a foot down wrong while rolling out successful models one after the other.
Skoda’s sales rose 12.6 percent in this same period to reach 462,400 cars, compared with 410,700 a year earlier. Skoda sold 549,667 cars in 92 countries last year, and expects to hit one million units sold in 2010.
And they should get there easily, considering their current sales trends and the fact that they keep pouring more money into production R&D and new model development every year. This year Skoda increased their budgets for same another 34% over last year, which in itself was a record year for expenditures in these areas. A company spokesman stated, “Our investments aimed primarily at innovation and expansion of our model lineup”, and certainly, the results so far speak for themselves.
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