Renault announced its withdrawal from the Russian market in April because of the war in Ukraine.
(Photo: Reuters)
Paris The withdrawal from Russia caused the sales figures of the French carmaker Renault to collapse significantly in the first half of the year. Global sales fell by 29.7 percent to just over a million vehicles, Renault announced on Tuesday. Without the Russian business, sales fell by twelve percent.
The market environment continued to be characterized by a shortage of semiconductors. Renault’s share price fell by up to 2.4 percent on the Paris stock exchange after the announcement of the sales figures.
Renault announced its withdrawal from the Russian market in April because of the war in Ukraine and Western sanctions against Russia. The carmaker is selling its majority stake in the Russian Lada manufacturer Avtovaz to the Russian research institute Nami with a six-year buyback option. Overall, Renault has written off around 2.2 billion euros on the Russian business.
More: These ten e-cars are currently available at a low price
Top jobs of the day
Find the best jobs now and
be notified by email.