Skoda said it broke volume and financial result records in 2016 as vehicle deliveries rose 6.7% year on year to 1,126,500, boosting sales revenue 9.8% to EUR13.7bn (US$14.7bn), both new records.

Operating profit rose 30.8% to EUR1.197bn.

The brand expects additional growth after launching the Kodiaq, upgraded Octavia and other new models this year.

"The results of the 2016 financial year exceeded our expectations. Achieving three record years in a row demonstrates the success of our sustainable growth strategy," said CEO Bernhard Maier.

"Our profitable growth is primarily based on four pillars: a higher number of vehicles delivered, the utilisation of capacities of our plants, an improved model mix, and optimised product costs," added CFO Klaus-Dieter Schürmann.

Operating profit was 8.7% of sales revenue. Profit before tax rose 38.7% to EUR1.173bn and after tax profit jumped 34.3% to EUR951m.

Sales reached new highs in key markets including China (317,100), Germany (165,200), Great Britain (80,300) and Poland (56,200).

In January and February 2017, deliveries rose 2.7% to 174,900 units.