Automaker takes major financial hit from quitting Russia ...News

Russia Today - Economy
Automaker takes major financial hit from quitting Russia
source : Russia Today ( News ) () 18
Renault took an over $2 billion writedown on the withdrawal French automaker Renault estimates it lost €2.3 billion ($2.34 billion) in the first half of this year as a result of pulling out of Russia, its second-biggest market, the company said in its financial report published on Friday. “The result of discontinued operations represents a loss of €2.3 billion in 2022 H1, mainly due to the impairment of the property, plant and equipment, intangible assets and goodwill of AVTOVAZ and Renault Russia as well as the impairment of specific assets held by the other entities of the Group and the result of disposals on t

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