The French automaker Renault Group expects that by the end of this year, due to the shortage of chips, it will be able to produce about 500 thousand cars less than planned. This is more than double the forecast that the company itself gave in September – 220 thousand cars. Now Renault predicts that in the third quarter alone, the chip deficit will cost it 170,000 unreleased cars.
The company made this statement as part of its reporting for the third quarter, in which it sold 599 thousand vehicles, which is 22% less than a year earlier. Renault noted that the Lada brand retains its leadership in the Russian market, despite a 27.8% drop in sales. “The Lada Vesta and Lada Granta models are best sold in this market,” the release says.
Renault also noted that the contribution of AvtoVAZ to the group’s revenue in the third quarter was € 537 million, which is 19% less than a year earlier. Excluding currency changes, AvtoVAZ’s contribution to Renault Group’s revenues would have declined by 23.9%.
As of the end of the third quarter, the Russian market remains the second most important market (sales since the beginning of the year amounted to 367 thousand vehicles) for Renault Group after the French market (391.5 thousand vehicles). The third place is taken by the German market – 129 thousand cars.
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