CZECH REPUBLIC: Skoda boosts Q1 sales, profits
Skoda first quarter sales rose 33% year on year and operating profit was up 87%.
Unit deliveries rose 21.4% to 217,124 vehicles as production increased 28.4% to 174,970 vehicles, bringing in EUR2.7bn, up 32.7%. Operating profit grew to EUR187m. Net prfot was EUR136m, up from EUR79m.
“Škoda continues to keep its foot on the gas pedal in 2011 and has shown an excellent performance in the first quarter,” said chairman Winfried Vahland. The Czech VW group unit wants to double worldwide sales to 1.5m vehicles by 2018.