Škoda achieves strong financial performance in 2024

31. října 2024

Škoda maintains its positive momentum: deliveries to customers in the first nine months of 2024 increased to 671,300 vehicles (+4.5% YoY). This growth was supported by a strong third quarter, with 222,700 vehicles delivered (+6%). The automaker is performing particularly well in Europe, outpacing the overall European market. The company’s financial figures underscore its position of strength: revenue increased to €20.4 billion (+3.8%), operating profit rose by 34.8% to €1.7 billion, and the return on sales (RoS) reached 8.3% (6.4%).

The all-electric Enyaq remains one of the best-selling BEVs overall in key markets like Germany, where it also ranked first among electric cars in September. This result makes the Enyaq the second best-selling electric car in Germany in the first nine months of 2024. Škoda has solidified its position as the fourth best-selling brand in Europe. It aims to build on this success: the recently launched all-electric compact SUV, Elroq, stands out as the most affordable EV in its class, taking into account its extensive standard equipment and battery size. In a first for the brand, sales began immediately after its premiere. 

Delivery figures nearing 2019 records with strong growth in key markets

After the strong performance from the first half of the year, Škoda Auto reaffirmed its financial stability in the third quarter of 2024. In the first nine months of 2024, revenue increased by 3.8% to €20.4 billion year-on-year, operating profit grew by 34.8% to €1.7 billion, while the RoS reached 8.3%. The main drivers of Škoda Auto’s profit growth are its comprehensive model line-up and its efficient cost structure. Net Cash flow grew by 98 % to € 2 billion.

Škoda’s comprehensively updated model range, diverse powertrain options, and high utility value contributed to a 4.5% year-on-year increase in global deliveries to 671,300 units. The third quarter was particularly successful, with Škoda Auto delivering 222,700 vehicles worldwide, up 6.0% on the same period last year. September 2024 marked Škoda’s best month in over three years with 84,200 vehicles delivered, the highest figure since June 2021, providing a cautiously optimistic outlook for the rest of the year.

Youngest model portfolio in brand’s history, Enyaq among most sought-after BEVs

Demand for Škoda models remains high. The brand’s youngest-ever portfolio resonates with customers across multiple regions, thanks to its design, advanced features, and convincing price-value proposition. The comprehensive range of powertrain options – from modern, fuel-efficient ICEs to plug-in hybrids and fully electric models – is also contributing to this success.

The refreshed best-selling Octavia posted a 13.7% increase in sales during the first three quarters. Deliveries of the popular Fabia model also rose sharply, up 21.3%. With a high volume of orders, the outlook for the remainder of 2024 remains optimistic.

Despite the overall slow-down in EV sales, the fully electric Enyaq continues to rank among Europe’s best-selling electric vehicles, securing top positions in markets such as the Czech Republic, Finland, Germany, and Switzerland.

Laying the foundation for further growth with the Škoda Elroq and Škoda Kylaq

Škoda continues to expand its electric vehicle portfolio with the introduction of the Elroq, which enters the highly sought-after compact SUV subsegment. For the first time in the brand’s history, Škoda launched sales immediately after the world premiere on 1 October, and the model has already garnered significant interest as evidenced by activity on web configurators in the 11 first-wave countries where sales have launched.

Škoda’s fully electric line-up will be further strengthened with the launch of the new Enyaq in 2025, followed by the all-new Epiq – a compact urban crossover – in 2026.

In the coming days, Škoda Auto will be expanding its line-up in India with the launch of the compact SUV, Kylaq, entering the highly competitive sub-4-metre segment. The Kylaq will be produced locally, utilising components from regional suppliers.

Škoda Auto Group¹⁾ – Comparison of key figures

Deliveries in the first three-quarters of the year

Vehicle deliveries to customers in 3 quarters of 2024

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