Skoda suffers colossal losses

The Czech brand Skoda Auto, a part of the Volkswagen group, sent 426,700 cars to dealerships in the first half of 2020.

The indicator is 31% less than in the first half of last year.

This year the Czechs' sales reached 7.55 billion euros, which is 1/4 less than the same period in 2019. Operating profit fell immediately by 72%, amounting to 228 million euros.

The COVID-19 pandemic was the reason for the drop in profitable sales. The Czech company expects that it will be able to overcome losses over time. Skoda thinks they will return to pre-crisis sales levels from the fourth quarter of this year.