Škoda Auto 2009 profit falls by more than two-thirds
Net profit last year at the Czech Republic’s biggest car producer Škoda Auto fell by 68 percent to 3.46 billion crowns, or around 183 million dollars. Turnover at the Volkswagen Group car maker dropped by 6.2 percent to 188 billion crowns. Car deliveries actually rose slightly to a record 684,200 vehicles. Sales in China doubled during the year to reach almost 123,000 cars. Demand in the single biggest market, Germany, rose 44 percent with just over 162,000 cars delivered there thanks to local scrap car incentives. Company bosses predict a new sales record could be reached this year.