Škoda Auto's Record Earnings In 2023 Highlight Strong Business Model And EV Focus

In a remarkable financial performance for the year 2023, Škoda Auto Group has announced a record revenue of €26.5 billion, marking a significant 26.2% increase from the previous year. The automotive giant also witnessed a substantial rise in its operating profit, soaring by 182.3% to reach €1.8 billion. This financial upturn is accompanied by an 18.5% increase in global vehicle deliveries, with the all-electric Enyaq family leading the charge with a 52.1% surge in deliveries.

As part of its strategic expansion, Škoda Auto has made significant inroads into the growth markets of Vietnam and Kazakhstan, underscoring its commitment to internationalisation. The company is poised to navigate market volatility with a robust investment plan focusing on e-mobility, highlighted by the upcoming launch of the battery-electric Compact SUV Elroq.

CEO Klaus Zellmer expressed his gratitude towards Škoda employees, retailers, and partners for their pivotal role in achieving these stellar financial results. Holger Peters, Board Member for Finance, IT, and Legal Affairs at Škoda Auto, credited the success to the company's Next Level Efficiency+ program alongside investments in e-mobility and digitalisation. Martin Jahn, Board Member for Sales and Marketing, lauded the brand's sales achievements and its foray into new markets such as Vietnam and Kazakhstan.

Škoda Auto's record-breaking revenue in 2023 is a testament to its updated model portfolio, digitalisation efforts, and strategic international expansion. The company is not only focused on financial growth but also on sustainability, aiming for carbon neutrality at its manufacturing sites in the Czech Republic and India by 2030.

The introduction of the Škoda Elroq later this year marks a significant step in expanding the brand's electric vehicle portfolio into the compact SUV segment. Looking ahead to 2025, the launch of the Škoda Epiq will provide an entry-level option in the sub-compact SUV segment. With billions of euros earmarked for e-mobility investments, Škoda Auto is firmly on course to further its electric vehicle transformation.