Skoda Auto reports 15 pct increase in 2011 sales

PRAGUE (AP) — Czech carmaker Skoda Auto AS, a part of German manufacturer Volkswagen AG, says its unit sales rose by 15 percent in 2011 to reach a record high.

Skoda Auto said in a statement on Thursday it sold 875,000 cars last year, compared with 762,600 in 2010, the previous record high. The company expected further growth in the years to come.

Financial results were not given.

Skoda Auto made the announcement during the New Delhi AUTO EXPO 2012 in India, where its sales rose by 50 percent in 2011.

The company said it expects its annual global sales to reach at least 1.5 million units by 2018.