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Skoda reports Q1 profit

Skoda Auto has reported an operating profit for  the first quarter of this yearof €28 million (£25m), despite the worldwide economic crisis.

The Czech manufacturer delivered 143,079 cars to customers in Q1 2009, a drop of 17.5% compared to the same period last year, but Skoda claims this is still outperforming the rest of the market.

Reinhard Jung, Škoda Auto’s chairman of the board, said: “The first quarter of 2009 was very difficult – the impacts of the worldwide economic crisis are having an effect on Škoda. But with our modern and environmentally friendly products, we have succeeded in expanding our market share in markets such as Germany and China.

“New car orders are also moving in a very positive direction for Škoda. We have introduced numerous specific measures in order to secure Škoda’s economic situation over the long term and to come out of the current crisis stronger than before.”

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