Renault Clocks 29.7% Decline In Half-Year Worldwide Sales

by Shivani Kumaresan, Benzinga Staff Writer

July 12, 2022 8:12 AM | 1 min read |

Renault SA RNLSY expects semiconductor production to move significantly higher in the second half of 2022, Reuters reported.
The company's half-year worldwide sales fell 29.7% year on year, disrupted by the semiconductor crisis and marked by the shutdown of its activities in Russia.
Renault's worldwide sales in the first half of 2022 declined 12.0% on an equivalent basis (excluding Russia).
Russia's invasion of Ukraine has disrupted business as western countries imposed a slew of sanctions against Russia, forbidding commercial operations for multinational corporations.
Price Action: RNSLY shares closed lower by 5.93% at $4.63 on Monday.
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