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Skoda Auto registers fourth consecutive annual drop in deliveries in 2022

Skoda Auto, a unit of Volkswagen (VOWG), said on Wednesday its worldwide deliveries had slumped 17% in 2022 as a result of parts shortages, strained supply chains and the military conflict in Ukraine.

Skoda delivered 731,300 vehicles globally in 2022, as it saw the biggest decrease in Russia – by 80%.

“The market situation will remain tense in 2023, but we are cautiously optimistic that the situation will improve in the coming months,” Skoda Auto’s Chief Executive Officer Klaus Zellmer was quoted as saying by Reuters.

COVID-19 outbreaks across Asia weighed heavily on the automotive industry last year, leading to shortages of particular components such as semiconductors.

As of 9:23 GMT on Wednesday the shares of Volkswagen AG were gaining 0.85% (EUR 1.35) on the day to trade at EUR 160.60 in Frankfurt.

The auto maker’s total market cap now stands at EUR 74.005 billion.

The shares of Volkswagen AG retreated 42.86% in 2022, compared with an 8.79% loss for the DAX Automobile (CXPAX) Index. is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

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