7/12, 9:57 AM (Source: TeleTrader)
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Chart for: Renault SA

Renault's deliveries drop in H1 amid chip shortage

Renault Group said on Tuesday that it delivered 29.7% fewer vehicles in the first half of the year compared to the same period a year ago (12% excluding Russia), mostly due to the crisis caused by the war in Ukraine and the global shortage of semiconductor chips.

Renault sold just over a million units in the first half of 2022 (1,000,199 units), with the stake of electrified cars in the total number of newly sold vehicles soaring by ten percentage points to 36%. The carmaker's shares slipped nearly 1% in Tuesday's early session.

In response to Moscow's invasion on Ukraine, Renault earlier halted vehicle sales in Russia and confirmed selling Renault Russia and its stake in local carmaker AvtoVAZ. Commenting on chip shortages, Renault COO Fabrice Cambolive asserted the company expects better availability in the second half of 2022.

Baha Breaking News (BBN) / ND