Škoda, Volkswagen report large declines in profit

The automobile manufacturer Škoda Auto recorded a net profit drop of nearly 62% for the first half of 2009 compared with last year. 329,641 cars were sold, or 10.1% less than during the same period last year. The owner of Škoda, Volkswagen, reported even less positive results, with an 81% decline in profits in spite of a 6% rise in automobile sales.