Skoda’s production version of the Vision X compact SUV, as well as the forthcoming electric Vision E SUV, electric Citigo city car and Superb plug-in hybrid, will be among 19 new models or variants launched by the Czech car maker in the next two years.
At its annual financial conference, Skoda announced a 34.6% growth in operating profits to €1.6bn (£1.4bn), from a sales revenue increase of 20.8% or €16.6bn (£14.44bn), which the firm attributed to the “successful implementation of our SUV strategy and our improved cost positions”.
Skoda’s sales revenue has doubled since 2008, when it made €8bn (£7bn) and produced only four models compared to today's seven.
Skoda’s 2017 profit before tax increased by 33.9% to €1.75bn (£1.53bn) while after-tax profits rose by 34% to €1.27bn (£1.11bn).
It also confirmed a profit margin of 9.7% in 2017, up from 2016’s 8.7%, and one of the best profit margins in the industry. By comparison, Audi, also owned by the Volkswagen Group, had a profit margin of 7.8% in 2017.
Skoda, which has flourished since being bought by the VW Group 27 years ago, sold 1,200,500 vehicles last year, an increase of 6.6% over 2016. Its biggest market is China with 325,000 deliveries, followed by Germany, Czech Republic and Great Britain.
Skoda sold 100,000 of its Kodiaq SUV globally last year, making a massive contribution to a segment Skoda was previously absent from.