Škoda Auto downscales production in light of financial crisis

Top Czech carmaker Škoda Auto said on Tuesday that it would cut production again in November and December because of lower demand caused by the global financial crisis. Spokesman Jaroslav Černý said the shutdowns would reduce Škoda’s output by another 18,000 cars in addition to the 13,000 cut in September and October. Škoda Auto last week announced a 24.7 percent drop in net profit for January-September, with revenue down 2.2 percent.