ŠKODA AUTO 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 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. ŠKODA AUTO was founded in 1895 in Mladá Boleslav, Czech Republic.