Update: 04/30/2024 08:33
Issued by: 30/04/2024, 07:56
Wolfsburg (Germany) – In the first quarter, the German automobile group Volkswagen managed an operating profit of 4.59 billion euros (115.4 billion CZK), which is a year-on-year decrease of approximately 20 percent. Car sales of Europe’s largest automaker fell to 2.08 million from 2.12 million a year ago. The company announced this today in its financial results report. The operating profit of Škoda Auto decreased by approximately 1.3 percent compared to the same period last year to 535 million euros (almost 13.5 billion CZK). Total car sales then decreased by 2.5 percent to 268,000.
Revenues from car sales fell by one percent to 75.46 billion euros. The Czech car manufacturer Škoda is also part of the group.
Total sales of cars delivered to customers in the quarter rose three percent year-on-year to 2.10 million. Volume figures also include unconsolidated results of joint ventures in China. Volkswagen has updated sales data for the previous year.
Sales in Western Europe remained unchanged year-on-year, but the group recorded growth in all other regions. Sales of fully electric vehicles delivered to customers fell by 3.3 percent year-on-year, which the company attributes partly to a lack of parts.
Škoda’s operating profit fell to 535 million euros
In the first quarter of the automobile company Škoda Auto, compared to the same period last year, the operating profit fell by approximately 1.3 percent to 535 million euros (almost 13.5 billion CZK). Total car sales then decreased by 2.5 percent to 268,000. In its results report, the parent concern Volkswagen stated this today.
The automaker’s sales fell by more than three percent year-on-year to 6.57 billion euros. The brand’s best-selling model remains the Octavia.
“Skoda introduced an improved version of its bestseller Octavia in the first quarter,” Volkswagen said. The new Superb Combi is then equipped with a number of new technologies, an interior made of sustainable materials along with intuitive controls and artificial intelligence (AI) support.
For the whole of last year, Škoda increased its operating profit by 182 percent to 1.77 billion euros. Sales increased by 26 percent to 26.5 billion euros. Last year, the automaker increased production by 16 percent to 888,050 vehicles.
Škoda Auto employs approximately 37,000 people and operates three production plants in the Czech Republic. It has production capacities in China, Slovakia and India, mostly through group partnerships, and in cooperation with a local partner also in Ukraine. Last October, the automaker announced that it would return to the market in Kazakhstan starting this year.
