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Automotive production is thriving once more

Traditional Czech carmaker, Skoda Auto a.s., is evidently performing well based on its recently published financial results. The Hyundai car factory in Nosovice, located in the Frydek-Mistek region, will exceed this year´s production target.

Skoda Auto a.s., located in Mlada Boleslav, is the largest car manufacturer in the Czech Republic, owned by the German Volkswagen Group. During the first nine months of 2023, the company delivered a total of 642 200 vehicles to its customers, marking an increase of 97 700 cars compared to the same period last year. The most popular model was the Octavia, responsible for nearly a quarter of the total sales. The share of alternatively powered vehicles is on the rise, with the current figure standing at 22 % of the production. The company also plans to expand into Southeast Asian countries.

The Hyundai car factory in Nosovice is the first manufaturing plant in Europe owned by Hyundai Motor Company from South Korea. According to the spokesman of Hyundai Motor Manufacturing Czech s.r.o., Petr Michnik, this year’s production target was 328 500 vehicles, but the latest estimates suggest that the company may produce up to 340 000 cars. In the pervious year, the plant manufactured 322 500 vehicles. The share of hybrids, plug-in hybrids and electric vehicles in production is over 40% this year and is steadily growing. The most successful car model in Nosovice is the Tuscon, accounting for 70% of the production.


Prepared by Veronika Vyoralova, team CzechTrade Israel

Source: CTK, Seznam Zpravy