Departure from Russia harms Renault’s well-being
- July 14, 2022
- 0
The Renault Group listed the results of the first half of the year, which – quite logically – were disappointing. After the French concern left the Russian market
The Renault Group listed the results of the first half of the year, which – quite logically – were disappointing. After the French concern left the Russian market and at the same time “left” AVTOVAZ, sales fell and the value of its shares fell.
According to the results of the first six months of this year, the French car group reduced sales by 29.7% after shipping 1,199,000 cars to customers, including LADA cars. The main demand came from Italy, Germany, Turkey and Brazil, although France remains the main market for Renault and Dacia.
Last year Russia was the second largest market for the Renault group, after only France mentioned earlier. So the loss of our customer was a serious blow to the well-being of the company. Against the background of such news, Renault’s share prices have started to fall and the carmaker’s market value has fallen by almost a quarter (since the beginning of this year). Now the car giant is “only” worth 7.1 billion euros.
In general, the “exodus parade” that started in the spring, when foreign companies fled Russia, which had started a military special operation, does not think it will stop. Before we had time to get annoyed by the decision of the Mercedes-Benz brand, Italian IVECO decided to say goodbye to its Russian assets.
According to the results of the first six months of this year, the French car group reduced sales by 29.7% after shipping 1,199,000 cars to customers, including LADA cars. The main demand came from Italy, Germany, Turkey and Brazil, although France remains the main market for Renault and Dacia.
Last year Russia was the second largest market for the Renault group, after only France mentioned earlier. So the loss of our customer was a serious blow to the well-being of the company. Against the background of such news, Renault’s share prices have started to fall and the carmaker’s market value has fallen by almost a quarter (since the beginning of this year). Now the car giant is “only” worth 7.1 billion euros.
In general, the “exodus parade” that started in the spring, when foreign companies fled Russia, which had started a military special operation, does not think it will stop. Before we had time to get annoyed by the decision of the Mercedes-Benz brand, Italian IVECO decided to say goodbye to its Russian assets.
Source: Avto Vzglyad
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
