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Renault: H1 sales volume down 30% after exit from Russia

French carmaker Renault on Tuesday reported a drop in vehicle sales in the first half of 2022 after suspending operations in Russia, its second-biggest market, in the wake of the invasion of Ukraine, Reuters reported.

The company reported that its global sales fell 29.7% from last year to just over one million vehicles (1,000,199 vehicles). Excluding the activities of Avtovaz and Renault Russia, the number of units sold decreased by 12% year-on-year.

Renault, which makes popular models such as the Dacia Duster and Renault Clio, has shut down its Russian operations amid the conflict in Ukraine and said it will sell Renault Russia and its nearly 67.69 percent stake in Avtovaz.

Apart from the impact of Russia’s exit, the French group cited a “framework disrupted by the semiconductor crisis”.

Source: Capital

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