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Renault losses from AvtoVaz have increased by 5.5 times

Renault losses from AvtoVaz shares are 55 million euro in the first half-year of 2014.

31.Jul.14 8:56 AM
By Mikhail Prygunov


Renault losses from AvtoVaz have increased by 5.5 times
Renault Company has lost 55 million euros from AvtoVaz shares during the first six month of 2014. This is 5.5 times higher in comparison with the same period last year (10 million euros).

Net profit of foreign company is 801 million euros while sales volume is 19.8 million euro. Renault has sold 1.36 million autos worldwide during the first half-year of 2014. This is 4.7% more than in the same period last year. This information comes from official reports of the company. Representatives of French brand note that data on AvtoVaz is displayed with a 3 month lag. In other words half-year report includes data for the 4th quarter of 2013 and 1st quarter of 2014. It was already announced that AvtoVaz losses were 2/95 billion rubles in the 1st quarter of 2014 and 6.9 billion rubles in the last year.

Despite such situation Renault continues providing AvtoVaz with all necessary technical support in order to proceed with different projects of cars. At the same time Renault specialists are consulting Russian producers about procurement, quality and information technologies.

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