Final answer:
Volkswagen owns a 70 percent stake in Škoda and is a key player in the highly competitive global automotive market.
Step-by-step explanation:
The company that currently owns a 70 percent stake in Škoda, the Czech automobile manufacturer, is Volkswagen. This reflects the significant changes in the global automotive market, which has seen a shift from a few dominant players to a much more competitive landscape. In the past, General Motors, Ford, and Chrysler were the main players in the U.S. auto market, but now they face stiff competition from a range of global manufacturers, including Toyota, Honda, Nissan, Volkswagen, Mitsubishi, and Mazda. Globalization has brought about greater consumer choice and has spurred innovation within the industry. Volkswagen's stake in Škoda is a testament to its position as a major global auto manufacturer with a significant share in the U.S. market.