Skoda wants to double its sales within 5 years

Volkswagen AG's Czech unit Skoda has raised its target and will now aim to double revenue over the next five years, instead of an original plan to double sales over the next decade. The daily newspaper Hospodarske Noviny quoted Skoda board chairman Winfried Vahland to have said that the carmaker assumes that the global upturn next year, will reach 45%.

Vahland said that the company�s �resolve� is for the company to grow faster than the rest of the world so that its sales will increase by more than 4%. He explained that there will be growth in four regions, Europe, Russia, India and China.

Hospodarske Noviny said that this year, Skoda anticipates sales of over 750,000 cars this year, a 10% increase year on year. By next year, it aims to sell least 780,000 units, the paper said. By 2016 the carmaker seeks to produce 1.5 million cars. In the Czech Republic, cars and car parts represent the largest export and a key driver of economic growth. [via autonews - sub. required]