Skoda’s Amazing 2024 Sets a New Profit High for Western Carmakers
Skoda Auto had a massive year in 2024, and I mean massive. The Czech carmaker pulled in more money than ever before, making it the most profitable Western car brand out there. They’re calling it their best financial year yet, and the numbers back that up.
Sales revenue hit €27.8 billion, up nearly 5% from last year, while their operating profit jumped a whopping 30% to €2.3 billion. That’s the kind of cash flow that makes a company sit up and take notice.
What’s behind this? Well, they sold a lot more cars – 926,600 to be exact, which is about 7% more than in 2023. The Octavia was the star of the show, with 215,700 units flying off the lots.
Europe loved Skoda this year, pushing them to fourth place among the continent’s top-selling car brands. Germany, the Czech Republic, and the UK were their biggest markets, but they also saw huge jumps in places like Türkiye and Poland. On top of that, smart cost-cutting through their Next Level Efficiency+ program and some lucky exchange rates helped pile up the profits.
The boss, Klaus Zellmer, couldn’t be happier. He said he’s proud to run a company that’s doing so well while the car world is changing fast. He credits their success to a strong business plan and a team that knows how to adapt. Holger Peters, the finance guy, chimed in too, saying their cash flow doubled to over €2 billion. That’s giving them room to invest in new tech and greener cars without breaking a sweat.
Skoda didn’t just sit still in 2024. They rolled out a bunch of new models, like the electric Elroq and an updated Enyaq, pushing hard into the e-mobility game. The Elroq’s already racked up 35,000 orders by early March 2025, and it’s priced to compete with gas-powered cars like the Karoq. They’re also planning a big electric SUV based on the Vision 7S concept, which got a sneak peek in their year-end video. Meanwhile, in India, they launched the Kylaq, a small SUV aimed at hitting 100,000 sales there by 2026.
On the global front, Skoda’s spreading its wings. They’re about to start building cars in Vietnam, starting with the Kushaq, and they’ve jumped back into Kazakhstan with over 1,400 cars sold. Back home, they’re working on cutting emissions too. Their Mladá Boleslav plant is switching to biomass, which should slash CO₂ by 290,000 tons a year. Pretty impressive for a company that’s been around for 130 years and still keeps reinventing itself.
Martin Jahn, the sales head, said they grabbed a record 5.9% market share in Europe. Places like Germany, France, and Spain gave them their best-ever results. They’ve even spruced up the MyŠkoda app, making it easier for drivers to charge their electric cars or pay for parking. It’s clear Skoda’s not just about profits – they’re setting themselves up for the future, and 2024 proved they’ve got what it takes.
