(March 21, 2011) PRAGUE, Czech Republic — After a record year in 2010 with over 762,000 vehicles sold, Skoda expects to continue this growth in 2011 and by 2018, the Czech manufacturer plans to double its annual sales to at least 1.5 million units.

To achieve this, the company has ambitious plans to increase production across all manufacturing facilities.

Skoda finished 2010 with a positive result, with sales revenue rising 22.4 percent. Operating profit was more than doubled to 447 million EUR ($633 million).

Skoda has been owned by Volkswagen since 2000.

“2011 is exactly 20 years after the entry of Volkswagen — this is a year of setting the course and setting out new horizons for Skoda,” said the chairman of the board of Skoda, Prof. Dr. h.c. Winfried Vahland at Skoda’s annual press conference in Prague. “We began the new year very well and have seamlessly followed up on the record sales year 2010,” said the Chief Financial Officer of Skoda, Winfried Krause.

In the first two months of the 2011, worldwide sales for the brand increased by 25 percent (to over 132,000 vehicles) compared to last year. “We will expand our position in the markets and expect to continue our growth course this year. To do so, we plan to increase the production at Skoda locations, both in our home market of the Czech Republic as well as outside of Europe,” Vahland said.

2010 Skoda Octavia

Within the framework of the Skoda Growth Strategy developed in 2010, the company aims to double its sales to at least 1.5 million units by 2018. “We do not want to be satisfied with what we have achieved and we will shift into a higher gear. Skoda has great potential and is on the verge of a growth spurt. That applies equally to our activities in the markets and to the expansion of the model range,” Vahland emphasized.

A key element of the plan is to increase the company’s international reach. While market growth in the core European markets is anticipated to be moderate, Skoda expects a continued dynamic development in emerging countries such as China, Russia and India.

“We’re charging ahead in all regions and want to participate intensively in the upswing in the booming regions of the automobile industry,” said the Skoda CEO. By the end of the decade, Skoda expects a growth of the global automobile market to an annual volume of about 85 million units.

For this purpose, Skoda is investing extensively in new products and wants to excite new customers in new market segments for the brand. A first glance of the new design language of the models was provided by the design study “Vision-D”, which was presented at the Geneva Motor Show earlier this month. Later this year, the much anticipated new City Car will be the first vehicle within the framework of the product plan to be launched in the market.

In 2012, another strategic step will be taken in the model plan: a compact hatchback — positioned between the Fabia and Octavia models — will open up another high-volume segment for Skoda.

The top-selling vehicle in 2010 was the Octavia with worldwide sales of more than 350,000 units.