Skoda revenues rise in 2022 despite impact of war in Ukraine

Skoda Enyaq vRS

Sales of the Enyaq increased by 53,700 units worldwide

Skoda delivered 731,300 cars in 2022 for a 16.7% year-on-year drop but earned €628 million in profit

Skoda’s worldwide revenues rose 19% last year, despite heavy impacts on the firm’s sales and production output, which was largely driven by the effects of Russia’s invasion of Ukraine. 

Some 731,300 Skoda cars were delivered worldwide in 2022, which is a 16.7% drop compared with 2021. However, the brand, owned by the Volkswagen Group, earned around €628 million (£559m) in profit, representing a 3% return on sales. 

After a strong second half of the year, in which sales increased by 58% in Q3 and 32% in Q4, the Czech car maker brought in around €21 billion (£18.7bn) in revenue last year, up from €17.7bn (£15.6bn) in 2021. It invested €1.15bn (£1.0bn) in 2022. 

Despite this, Skoda’s results were heavily impacted by Russia’s invasion of Ukraine, which slowed production in factories that produce parts such as wiring harnesses. As a result of the war, boss Klaus Zellmer said the firm was in the final stages of a deal to sell all of its Russian assets to a third party. 

The Skoda Octavia was the firm’s best-selling car, with 141,100 units delivered around the world. It was followed by the Skoda Kamiq compact crossover (96,300), the larger Skoda Kodiaq (94,500) and the Skoda Fabia hatchback (92,700). 

Deliveries of the Skoda Enyaq iV, the car maker’s newest model and first all-electric car, increased by 20% to 53,700 worldwide. 

Skoda revealed its plans to launch three additional all-electric models by 2026. Kellmer also touched on the firm’s green production plans, targeting a 70% electric vehicle share of its sales by 2030. The firm will open its second battery assembly line later this year, which will increase its total capacity to 1500 batteries per day. 

Finance boss Christian Schenk said 2023 would be challenging, with additional parts supply shortages expected, the impact of inflation and the volatile economic situation around the world.

Schenk said Skoda’s product mix and introduction into new markets would act as suitable countermeasures and the firm was “deeply convinced” it would deliver more cars in 2023. 

There are several model updates on the way, too. The Skoda Scala hatchback and Kamiq crossover will receive facelifts later this year, while the Enyaq is set to gain a new, range-topping LMK specification level, with an emphasis on technology and comfort. 

Meanwhile, the firm’s flagship internal-combustion-engined models, the Skoda Kodiaq and the Skoda Superb, will receive a complete design overhaul inside and out, with new technology and “efficient engines”.

Kellmer confirmed both cars would receive a plug-in hybrid powertrain for the first time, with electric-only ranges of more than 62 miles. The two models will launch in the second half of this year, before deliveries begin in 2024.

Skoda will further detail its ambitions for its switch to electric at its Explore More event next month. Zellmer did not reveal a specific model but hinted that an electric estate car would be revealed at the event. 

Source: Autocar

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