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ŠKODA AUTO commonly called Škoda, is a Czech automobile manufacturer founded in 1895 as Laurin & Klement and headquartered in Mladá Boleslav, Czech Republic. In 1925 Laurin & Klement was acquired by the industrial conglomerate Škoda Works, which itself became state owned in 1948. After 1991 it was gradually privatized and in 2000 Škoda became a wholly owned subsidiary of the German Volkswagen Group.
Škoda automobiles are sold in over 100 countries and in 2018, total global sales reached 1.25 million units, an increase of 4.4% from the previous year. The operating profit was €1.6 billion in 2017, an increase of 34.6% over the previous year. As of 2017, Škoda's profit margin was the second highest of all VW Group brands after Porsche.
The Škoda Works were established as an arms manufacturer in 1859. ŠKODA AUTO (and its predecessor Laurin & Klement) is fifth oldest company producing cars and has an unbroken history alongside Daimler, Opel, Peugeot and Tatra.
As with many long-established car manufacturers, the company which would become Škoda Auto started in the early 1890s by manufacturing bicycles. Škoda (then Laurin & Klement) factories were founded in 1896 as a velocipede manufacturer.
In 1894 (126 years ago), 26-year-old Václav Klement, who was a bookseller in Mladá Boleslav, Kingdom of Bohemia (today's Czech Republic, then part of Austria-Hungary), was unable to obtain spare parts to repair his German bicycle. Klement returned his bicycle to the manufacturers, Seidel and Naumann, with a letter, in Czech, asking them to carry out repairs, only to receive a reply, in German, stating: "If you want us to answer you, we insist that you convey your message in a language we understand". Not satisfied with the reply and realising the business potential, Klement, despite having no technical experience, decided to start a bicycle repair shop, which he and Václav Laurin opened in 1896 in Mladá Boleslav. Before going into partnership with Klement, Laurin was an established bicycle manufacturer in the nearby town of Turnov. More details
The Škoda Works were established as an arms manufacturer in 1859. ŠKODA AUTO (and its predecessor Laurin & Klement) is fifth oldest company producing cars and has an unbroken history alongside Daimler, Opel, Peugeot and Tatra.
As with many long-established car manufacturers, the company which would become Škoda Auto started in the early 1890s by manufacturing bicycles. Škoda (then Laurin & Klement) factories were founded in 1896 as a velocipede manufacturer.
In 1894 (126 years ago), 26-year-old Václav Klement, who was a bookseller in Mladá Boleslav, Kingdom of Bohemia (today's Czech Republic, then part of Austria-Hungary), was unable to obtain spare parts to repair his German bicycle. Klement returned his bicycle to the manufacturers, Seidel and Naumann, with a letter, in Czech, asking them to carry out repairs, only to receive a reply, in German, stating: "If you want us to answer you, we insist that you convey your message in a language we understand". Not satisfied with the reply and realising the business potential, Klement, despite having no technical experience, decided to start a bicycle repair shop, which he and Václav Laurin opened in 1896 in Mladá Boleslav. Before going into partnership with Klement, Laurin was an established bicycle manufacturer in the nearby town of Turnov. More details
