Skoda revenues rise as car maker overcomes supply challenges

Skoda increased its global revenues by 19% in 2022, despite the challenges caused by supply chain constraints and the war in Ukraine.

The car maker delivered 731,300 cars last year, representing a drop of 16.7% on the previous year.

Profit margins took a hit, with Skoda's exit from the Russian market impacting its return on sales by around €700m.

Klaus Zellmer, Skoda Auto CEO, said: “Against the backdrop of what is likely to have been the most challenging market environment in the company’s history to date, Škoda Auto achieved a very solid financial result and proved once more its extreme resilience. Many have contributed to the fact that we were able to steer through this challenging year well. A big “thank you” to the entire team of 45,000 Škodians for their passion and commitment, but also to our dealers and partners worldwide. Together, we kept the company on track to deliver as many cars to our customers as possible."

Skoda took an important step towards establishing the Czech Republic as an e-mobility hub in the past year: In May 2022, the company launched the production of battery systems for BEVs based on the Volkswagen Group’s Modular Electrification Toolkit (MEB) at its main plant in Mladá Boleslav. The investment in the newly built production line totalled around €130m. Another assembly line will be added this year, raising the total capacity to 1,500 batteries a day. The MEB battery systems manufactured in Mladá Boleslav will also be installed in vehicles built by Volkswagen, Audi and Seat. 

In the first half of 2022, Skoda halted production of the all-electric Enyaq iV for eight weeks due to supply bottlenecks caused by the war in Ukraine. To best meet customer demand and reduce the high order backlog, the car manufacturer relocated part of its Ukrainian component production to Mladá Boleslav in close cooperation with suppliers. These steps enabled manufacturing capacities to be duplicated in Europe and North Africa within only a few weeks.

Skoda will introduce a number of new and updated products over the next three years, the first of which will be facelifted versions of its Kamiq and Scala models. These will be followed by a range-topping Laurin & Klement version of the Enyaq.

The Karoq will enter its second-generation this year, gaining plug-in hybrid powertrains for the first time. A new Superb model will also be unveiled.

A new compact electric car, named Elroq, will join the line-up alongside a larger seven-seat model based on the Vision 7S Concept, to align with Skoda's goal of launching three EVs by 2026.