Škoda Auto
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Škoda Auto is a car manufacturer owned by the Volkswagen Group, one of the world's largest automotive companies. The company matters because it produces vehicles sold across Europe and other markets, making it a significant player in the global automobile industry.
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Škoda Auto a.s. ( Czech pronunciation: [ˈʃkoda] ), often shortened to Škoda, is a Czech automobile manufacturer established in 1896 as the successor to Laurin & Klement and headquartered in Mladá Boleslav, Czech Republic. Škoda Works became state owned in 1948. After the Velvet Revolution, it was gradually privatized starting in 1991, eventually becoming a wholly owned subsidiary of the German multinational conglomerate Volkswagen Group in 2000.
Škoda automobiles are sold in over 100 countries, and in 2018, total global sales reached 1.25 million units, an increase of 4.4% from the previous year. The operating profit was €1.6 billion in 2017, an increase of 34.6% over the previous year. As of 2017, Škoda's profit margin was the second-highest of all Volkswagen AG brands after Porsche.