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Skoda to Launch 19 Models by 2020
Volkswagen AG’s Skoda unit plans to launch 19 new and redesigned models by the end of 2020.
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Volkswagen AG’s Skoda unit plans to launch 19 new and redesigned models by the end of 2020.
The rollout will include variants of existing models, including hybrid and all-electric vehicles. Skoda plans to introduce at least five battery-powered cars by 2025 and is investing about €2 billion ($2.8 billion) during that time on electromobility and new mobility services.
Skoda sold a record 1.2 million vehicles worldwide last year, up 7% over 2016. The brand currently offers seven base models, led by the midsize Octavia hatchback with sales of more than 418,000 units in 2017.
As with most carmakers, Skoda’s fastest-growing market is the crossover segment. The company sold 100,000 of its Kodiaq seven-seat crossover/SUV last year and added the smaller Karoq, which replaced the outgoing Yeti.
China is the company’s largest market, accounting for more than one-fourth of the Czech brand’s volume. As part of an ongoing global expansion, Skoda will launch sales in Singapore later this year and plans to enter South Africa in 2019. VW acquired the brand 24 years ago.
To support the product offensive, Skoda is looking for ways to increase production. This includes working weekends and adding shifts at its factory in Mlada Boleslav, Czech Republic. Another option is to build a new assembly plant in another country. A decision is expected by this summer.