Škoda Auto, more commonly known as Škoda, is a Czech automobile manufacturer founded in 1895 as Laurin & Klement. It is headquartered in Mladá Boleslav, Bohemia, Czech Republic. The car manufacturer was acquired by Škoda Works in 1925. The company became a wholly owned subsidiary of the Volkswagen Group in 2000, specifically to fill the role as the group’s entry brand, but the Czech brand move progressively more upmarket, when most models overlap with their Volkswagen counterparts on price and features, while eclipsing them on space. Its total global sales reached 1.04 million cars in 2014 and had risen annually by 12.7%.