Škoda Auto’s operating profits take deep plunge in first half of 2020

The operating profits of Škoda Auto have dropped by nearly 75 percent during the first half of 2020 to € 228 million (approximately CZK six billion) from last year’s € 624 million. The news was announced on Thursday by the Volkswagen Group, which owns the Czech carmaker.

Škoda Auto sales slumped my more than 25 percent to € 7.5 billion (CZK 196.5 billion) from € 10.2 billion in the previous year.

According to Volskwagen, Škoda sold 372,000 vehicles in the first half of 2020, which is a year-on-year drop of 33.6 percent. Among the most popular models were the Kodiaq and Karoq SUVs as well as the new Scala and Kamiq models.