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Renault Sales Plunged 30% as Carmaker Pulled Out of Russia

  • French carmaker says shipments declined 12% excluding Russia
  • Renault production seen ‘significantly higher’ in second half
Renault dealership in Moscow, in Aug. 2014.

Renault dealership in Moscow, in Aug. 2014.

Source: Bloomberg

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Renault SA sales dropped nearly 30% in the first half after the carmaker’s forced withdrawal from the Russian market and persisting parts shortages dented shipments.

Renault sold around 1 million vehicles in the first six months of the year, it said Tuesday. That’s less than half of what it shipped during the same period four years ago, when the company was on an expansion course. The decline narrows to 12% excluding Russia, which was the firm’s second-biggest market thanks to the popular Lada brand.