Škoda Auto raises net profit by 46 percent

Car maker Škoda Auto raised its net profit by 46 percent to 665 million euros (more than 18 billion crowns) in 2014, company representatives said at a press conference on Monday. Škoda's sales grew by 13.9 percent to 11.76 billion euros last year. Škoda Auto had said earlier its car sales increased by 12.7 percent in 2014, exceeding the level of one million cars for the first time in its history. Škoda's share on the world market rose by 0.1 percentage points to 1.4 percent. The car maker’s largest market was China where it sold 281,400 cars, an increase of 24 percent compared with the previous year. The car maker also recorded growth in sales in Western and Central Europe, but sales in Eastern Europe declined.

Author: Jan Velinger