China Knowledge reported that sales of Skoda, a Czech based auto brand owed by Volkswagen AG reached more than 700,000 units in China from the beginning of this year to May 6. This is a new milestone for the JV after it had sold over 500,000 Skodas as of June 18 2011. Three kinds of Skoda models, comprising the Fabia subcompact, Octavia compact and Superb midsize segments are being sold in China. Since…