News

DISTRIBUTION RIGHTS OF ŠKODA IN LITHUANIA

TALLINN, 03.02.2023, www.nasdaqbaltic.com - TKM Auto OÜ, a wholly owned subsidiary of Tallinna Kaubamaja Grupp AS, has signed a letter of intent with the public limited company Auto 100 according to which the subsidiary company KIA Auto UAB will become the retailer of Škoda in Lithuania in addition to KIA vehicles. The Group holds the retail rights of Škoda in Latvia since 2019. As of 2023, AS Auto 100 is the official importer of Škoda in addition to Estonia and Latvia also in Lithuania.

This year, the plan is to open a sales and service centre for Škoda on suitable rental premises. By the beginning of 2025 at the latest, the plan is to open a new sales and service center for Škoda and KIA on the property owned by UAB TKM Lietuva, a subsidiary of Tallinna Kaubamaja Grupp AS, and located at Ukmerges gatve 286, Vilnius.

The aim of Tallinna Kaubamaja Grupp AS is to expand in the field of car trade, which has been one of the strategic segments of the Group’s business activities since 2007. The Group’s car trade segment is the importer of KIA in the Baltic countries with an independent dealer network and the companies operating in car retail and service in two showrooms in Tallinn, two in Riga, and one in Vilnius. In addition to KIA, several other car brands are available, such as Peugeot and Cadillac in Estonia and Latvia and Škoda in Latvia. The unaudited sales revenue of the Group’s car trade segment was 146.8 million euros in 2022.

Raul Puusepp
Chairman of the Executive Board