Renault Could Transfer Its Controlling Stake In AvtoVAZ To Russian Investor | Carscoops

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Renault Could Transfer Its Controlling Stake In AvtoVAZ To Russian Investor | Carscoops
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Renault Could Transfer Its Controlling Stake In AvtoVAZ To Russian Investor | Carscoops carscoops

last week in response to the invasion of Ukraine. Already, the car manufacturer has ceased operations at its large factory in Moscow. The future of this site has yet to be determined.

Russia is the second-largest market for Renault and in 2021, accounted for approximately 482,300 sales, placing it second behind France with 521,700 sales. Due to Renault’s exposure to the Russian market, S&P Global has retained its negative financial outlook on the company. “Although Renault is exposed to Russia because of its large operations there, we are more concerned about its capacity to maintain sound performance in light of likely supply disruptions, higher input costs, and reliance on the European auto market, which could be hurt by the Russia-Ukraine conflict,” the information and analytics company said in a recent report,Renault valued its business in Russia at €2.2 billion at the end of last year.

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