Klaus Zellmer, CEO of Škoda Auto: “Škoda Auto turned in a solid performance in the first quarter, once again demonstrating a robust business model built on attractive products tailored to our customers’ daily lives. After the challenges of the past few years, we are seeing sustained customer demand and sustaining our capacity to deliver. While the future is increasingly electric, we stand by our ICE and hybrid models that together provide customers with the freedom to choose during this era of transition. This strategy led by customer-centricity will help us increase market share in Europe while growing in new international markets in Asia and the Middle East.”
Holger Peters, Škoda Auto member of the Board of Management for Finance, IT and Legal Affairs: “After a record year in 2023, we have started the first quarter of 2024 on very solid ground. With an operating profit of €535 million in the first three months, we have successfully maintained our performance at levels close to those of the previous year, with revenues totalling €6,574 million. Additionally, we achieved a 10.7% increase in net cash flow, reaching €457 million. These results enable us to fund future investments from our own resources. In the first quarter alone, we invested €443 million (+2.3%), a large portion of which flowed into future products.”
Martin Jahn, Škoda Auto Board Member for Sales and Marketing: “Our performance has been particularly strong in European markets. Germany led the field with the highest absolute sales increase of 3,300 units. Following closely are Poland and Ireland, where we have also seen significant gains in market share, approaching the 11% mark in both countries. The Octavia remains our bestseller, and at the same time, we are encouraged by the growing interest in our all-electric Enyaq model family. In the first three months of this year, we delivered 12.3% more Enyaq models to customers than in the same period last year.”
Strong performance in Europe: overall market share increased
Škoda Auto increased its overall market share in Europe to over 5% in the first three months of the year. Germany remained Škoda Auto’s largest single market worldwide in the first quarter of 2024, with 43,500 vehicles delivered. This corresponds to an increase of 8.3% compared to the same period last year and represents the largest increase in absolute figures worldwide (+3,300 vehicles). The brand grew its market share in Germany compared to the previous year to 6.3% (2023: 6.0%). The Czech Republic, Škoda’s home country, is its second strongest market. Here, the car manufacturer delivered approximately 20,300 vehicles in the first quarter of 2024 (+0.5%), maintaining a clear leadership position with a market share of 35.2%. The United Kingdom ranks as Škoda’s third largest market, with deliveries increasing nearly 9% YoY to 18,400 vehicles from January to March. The brand’s top ten markets in the first quarter also include Poland (15,000 units; +15.3%), Turkey (10,200 units; +14.5%), Italy (9,600 units; +13.7%), France (9,200 units; +9.6%) and Spain (8,600 units; +18%).
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