In the first three quarters of the year, Skoda increased its global deliveries to customers by 3.6% compared to the same period in 2016 – to 871,100 vehicles. Sales revenue rose by 22.0% compared to the first nine months of the previous year to EUR12.3bn (US$14.3bn). Skoda Auto posted a significant increase of 28.3% on the previous year’s operating profit.
The VW-Group owned brand said extensive revisions to the model range and the large SUV Skoda Kodiaq’s impact were the main drivers of this positive development.
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By GlobalData“The significant increases in sales and profit in the first three quarters of the year demonstrate that we have devised an effective strategy,” says Skoda Auto CEO Bernhard Maier. “The full potential of our SUV campaign is now unfolding. The Kodiaq has been very well received by our customers. Now, we are launching the little brother – the Skoda Karoq.”
Demand for the Skoda Kodiaq on the global markets has been high since its launch in February 2017, and by the end of September, 61,600 vehicles had already been delivered. With the brand’s first large SUV, Skoda is conquering new customer groups. The next stage of the SUV campaign is the compact Skoda Karoq, which has been available in the first markets since October.
In the first nine months of 2017, the automobile manufacturer’s sales revenue rose by 22.0% to EUR12.3bn (January to September 2016: EUR10.1bn). Skoda Auto also achieved significant double-digit growth in operating profit, which increased by 28.3% to EUR1.2bn (January to September 2016: EUR940m).
Skoda Auto once again surpassed the previous year’s return on sales, which stood at 9.8% at the end of September 2017 (January to September 2016: 9.3%).
“With these excellent results, Skoda Auto proves its financial strength and profitability,” says Skoda Auto Board member for Finance Klaus-Dieter Schürmann. “The new Skoda Kodiaq contributed significantly to the improvement in earnings. The continually increasing profitability is largely attributable to positive volume and mix effects.”
Skoda Auto’s earnings strength provides a reliable financial basis for the further development of the company and brand. The core areas of this development are defined in Strategy 2025, which lays out the brand’s electromobility plans and its entry into new digital business fields, as well as the continuation of the model and SUV campaigns.
- Deliveries to customers: 9M 2017 – 871,100 units; 9M 2016 – 840,900 units: change – 3.6 %
- Deliveries to customers exld. China: 9M 2017 – 658,500 units; 9M 2016 – 615,700 units: change – 7.0 %
- Production: 9M 2017 – 648,500 units; 9M 2016 – 573,800 units: change – 13.0 %
- Sales: 9M 2017 – 699,600 units; 9M 2016 – 605,800 units: change – 15.5 %
- Sales revenue: 9M 2017 – EUR12,338m; 9M 2016 – EUR10,113m: change – 22.0 %
- Operating profit: 9M 2017 – EUR1,206m; 9M 2016 – EUR940m: change – 28.3 %
- Return on sales: 9M 2017 – 9.8%; 9M 2016 – 9.3%
- Net cash flow: 9M 2017 – EUR1,690m; 9M 2016 – EUR928m: change – 82.1 %