The car company said it expected the launch of a new SUV and an upgrade to its flagship Octavia model to bolster its first half of the new year.

"The market launches of the revised Skoda Octavia and the new SUV model Skoda Kodiaq are expected to provide further positive momentum for the brand in the first half of the year," Chief Executive Bernhard Maier said in a statement.

Skoda is the Czech Republic's largest exporter and a bellwether for the economy that has posted solid growth in the past few years.

(Reporting by Jason Hovet)