Skoda Auto's Q3 Results Are Better Than Those Achieved Over the Same Period of Last Year

PRLog (Press Release) - Nov 01, 2009 -
Škoda Auto has delivered 6.5% more vehicles to its customers than it did over the same period of 2008 - 174,984 from July till September 2009 versus 164,258 last year.

The Czech Republic´s largest car manufacturer has delivered 504,625 cars to its customers from January till September 2009 - the Škoda brand only fell by 5.0%, although the global car market saw an 11.9% year-on-year fall. The Group has manufactured 387,574 vehicles in all of its plants over the first nine months of this year, 22.4% less than it did over the same period of 2008. Besides that, Škoda Auto also manufactures vehicles in China - (89,911 vehicles over the first months of this year). Škoda is contributing EUR 162.4 million of its operating profit over the first nine months of 2009 to the overall figures of the Volkswagen Group.

"Just like the results of the entire automotive industry, our results are substantially affected by the global economic recession. We have adopted a number of measures to remain financially strong and steady. To combat the current problems in the automotive market, we have launched some new, attractive products. The Škoda Yeti is being launched successfully in the markets of our presence, and we have extended the portfolio of our environmentally-friendly vehicles (GreenLine). Furthermore, we presented the estate version of our flagship product, the Škoda Superb ( http://www.skoda.com.au/superb/ ), at the recent Frankfurt Motor Show – the feedback we are now getting is very positive. For the first time this year, Škoda Auto has seen its sales figures grow in the third quarter. We expect this positive trend to continue also over the last three months of 2009. This year is very difficult for the entire automotive industry. Yet we have been able to achieve very good results despite adverse macroeconomic conditions", said Škoda Auto BOD Chairman Reinhard Jung.

"These sales figures are, to a large extent, a result of car scrappage schemes, particularly that in Germany, and the situation in the Chinese market which, as one of very few in these difficult times, has been growing dynamically. Making use of these positive effects, we have made up for over a half of the loss we are now suffering in Eastern Europe. The sales in the final part of 2009 are expected to reach levels comparable to those of last year. Next year we are going to face the consequences of termination of one-off support programmes, but the economies of the respective countries are expected to start growing. Yet it is very difficult to tell now what 2010 actually holds for us," says Reinhard Fleger, BOD Member for Sales.

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