Czech automaker Skoda Auto, a part of Volkswagen Group, says it delivered 6.9 percent more cars in 2024 reaching 926,600, in contrast to 865,100 cars in 2023. Sales declined in other key markets except in Europe which contributed to the company's great growth, it revealed to be on Wednesday.
The Czech brand’s largest market was Germany, the territory where deliveries increased by 18.5 percent compared to the same period of the previous year. Sales in India and China fell but such performance was offset in Europe.
A spokesperson for Skoda said 'Strong growth in Europe, in our home markets, in particular, has been a key factor in our overall performance this year.'
Skoda declined to disclose details on falling sales in India and China, but industry analysts say the problems in such markets may be intensifying competition and wavering economies. For example, in China, aggressive pricing from local automakers has forced internationals on the defensive.
But Skoda has persisted in expansion, even with setbacks. In the year, the company has made an effort at expanding its portfolio, consisting of inns internal combustion engine, hybrids and fully electrical models. A push for electrification, Skoda has seen its recently launched Enyaq iV, an all electric SUV, gain huge traction in European markets.
Skoda Auto’s growth pattern fits within the larger Volkswagen Group objective of consolidating its leadership in the automotive markets all over the world, and adjusting to developing customer needs.
"Looking ahead, our strategy is clear: Moving forward, the company added: "We will continue driving sustainable growth and concentrating on the markets where we see unrealised potential."
With a new line-up planned for 2025, including updates to its popular SUV and electric vehicle offerings, Skoda aims to capitalise on emerging trends and strengthen its position in both traditional and new energy vehicle segments.
The company remains optimistic about sustaining momentum in the coming year, targeting a balance between innovation and addressing regional market challenges.