Czech automaker Skoda’s profits fell 43% in 2022 informs TASS via seznam.cz link. According to Martin Jahn, member of the company’s board of directors, such indications are due to the company’s departure from Russia.
Yahn described last year as “the hardest year in Skoda history”, but is confident that there are only “bright days” ahead of the company. According to the top manager, another reason for the decline in profits was the decline in sales of Czech brand cars (23%) in China.
But according to Yakhn, Skoda has found an effective alternative for the Russian and Chinese sales markets. He said demand for the company’s vehicles is growing rapidly in India and Southeast Asia.
According to the Association of European Enterprises in Russia, in 2021 Skoda sold more than 90,000 cars in Russia and ranks sixth among automakers in terms of market volume, after Lada, Kia, Hyundai, Renault and Toyota.
March of this year reportedThat Skoda does not consider the possibility of continuing to work in Russia. According to Skoda Chairman of the Board Klaus Zellmer, the company lost about 700 million euros due to its withdrawal from the Russian market.