Skoda reveals its Q3 profit

Posted on Monday, 2 November 2009 , 19:11:13 byEmil

Filed under q3profitskoda-salesfinancial-resultsyetivolkswagenSkodaEuropeanVolkswagen

Skoda reveals its Q3 profit

Skoda - Czech automaker posted recently its financial results over this year 3rd quarter, having 6.5 % raise in cars sold than last year on the same period (174,984 vs 164,258). From the year's start, Skoda had a 5 % sales decrease.

'Just like the entire automotive industry, our results are substantially affected by the global economic recession. We have adopted a number of measures to remain financially strong and steady. To combat the current problems in the automotive market, we have launched some new, attractive products' Reinhard Jung, chairman of board at Skoda stated for the press.

Skoda will be contributing, having these results, to Volkswagen Group's overall profit - 162.4 million Euro. The raise in the 3rd quarter it's possible because of Yeti's introduction, Skoda thinks.

Jung continued 'The Škoda Yeti has been launched successfully, and we have extended the portfolio of our environmentally-friendly GreenLine vehicles. Furthermore, we presented the estate version of our flagship product, the Škoda Superb, at the recent Frankfurt Motor Show and the feedback we are getting is very positive'.

'For the first time this year, Škoda Auto has seen its sales figures grow in the third quarter. We expect this positive trend to continue also over the last three months of 2009. This year has been very difficult for the entire automotive industry. Yet we have been able to achieve very good results despite adverse macroeconomic conditions'.