Czech car manufacturer Skoda Auto today announced its results for the first nine months of the 2022 calendar year. In conditions that remain challenging, the company says it achieved a stable return on sales of 5.6% and an operating profit of €856 million (-4.9). % y/y) for the first three quarters of 2022.
This, according to Skoda Auto, shows that the measures introduced as part of the efficiency improvement program are paying off. India, where the carmaker sees strong demand for the Kushaq SUV and the Slavia sedan, is growing in importance as a global market. The company said: “Due to a large order backlog and a sharp increase in deliveries in the important growth market of India (+186.9%), Skoda also expects a strong positive operating profit for the year as a whole.”
Skoda India sold a total of 38,300 units between January and September 2022, an increase of 187% and accounting for 7% of Skoda’s total sales of 544,500 units. These market highs are ahead of China (36,300 units, -31% y/y) and Russia (16,600 units, -77% y/y). Kushaq with 19,500 units and Slavia with 15,400 units were the key growth drivers in the Indian market.
Skoda’s global sales from January to September totaled 544,500 vehicles, which is down 22.3% compared to the same period last year. In a statement, the company said there is “continued supply distortion due to global developments; the war in Ukraine, a significant increase in the prices of raw materials and energy, a permanent shortage of semiconductors and unstable supply chains strongly affected the quarterly results of the Czech automaker.”