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    Skoda Celebrates 33% Growth in First Quarter Sales
    Skoda Celebrates 33% Growth in First Quarter Sales

    The Czech automaker Skoda has announced that its global sales revenues have grown almost 33 percent to an impressive EUR2.7 billion during the first quarter of 2011.

    During the first three months of the year, the company has sold 217,124 vehicles, which is 21.4 percent more than in the last quarter of 2010. To meet the growing demand, Skoda increased production volumes by 28.4 percent to 174,970 units. The company’s operating profit grew 87 percent compared to the same period of last year.

    Encouraged by successful performance in the first quarter of the year, Skoda plans to double its global sales to 1.5 million vehicles by 2018.

    “The financial situation of the company has continued on its positive course during the first three months of 2011. Higher sales volumes, in particular of the Fabia, Yeti, and Superb models, have contributed significantly to this development,” stated the Skoda board member for Commercial Affairs, Winfried Krause.

    Earlier this spring, Skoda confirmed that they will introduce two new models in the nearest future. The first addition to the lineup, expected to debut later this year, will be a city car, followed by a new compact, which the company plans to launch in 2012.

    Skoda is one of the oldest auto manufacturers in the world, having been established in 1895. The Czech brand is now a subsidiary of the Volkswagen Group with production facilities located in Europe and Asia. Skoda does not import vehicles to the United States, however many of the Skoda models have siblings in the Volkswagen’s U.S. lineup.