Skoda Auto’s Profits Sink 60% As Coronavirus Slams Sales

Skoda Auto’s operating profit fell by 60 percent to 469 million euros in the first nine months of this year. The negative impact on the economy was mainly due to lower sales volumes caused by the covid-19 pandemic, and extraordinary expenses related to emissions regulations. However, lower fixed costs partially offset these losses.

The automakers revenues fell by 25.9 percent to 12 billion euros (329 billion CZK). Sales fell 25.9 percent to 596,000 vehicles. The most popular models were the Scala, Kamiq and Octavia Combi.

Škoda Auto operates three production plants in the Czech Republic. It also has factories in China, Russia, Slovakia, Algeria and India, mostly through group partnerships. The company operates in Ukraine and Kazakhstan in cooperation with local partners.