The Czech brand is celebrating 25 years since it entered the universe of the «German giant», the Volkswagen Group.
Volkswagen's first capital acquisition of Skoda took place in 1991 – exactly 25 years ago. That year, the German group acquired 31% of Skoda in a deal valued at DM 620 million. Over the years Volkswagen gradually increased its stake in the Czech brand until 2000, the year in which it completed the full acquisition of Skoda's capital.In 1991 Skoda only had two models and produced 200,000 units per year. Today the scenario is completely different: the Czech brand produces more than 1 million vehicles and is present in over 100 markets worldwide.
More than enough reasons to celebrate:
“Over the past 25 years, Skoda has gone from being a local brand to a successful international brand. One of the decisive factors for this growth was, without a doubt, the acquisition by the Volkswagen Group a quarter of a century ago and the close and professional collaboration between the two brands” | Bernhard Maier, CEO of Skoda
A success that has given a strong boost to the Czech Republic's economy. Skoda is responsible for 4.5% of the country's GDP, and for almost 8% of exports.