Renault stock collapses following Ukraine invasion
France’s automotive giant – which owns the Lada marque and factories in Russia – has seen billions of dollars wiped off its valuation since Monday, however it remains to be seen if supply in Australia will be impacted.
The market valuation of French car maker Renault has been slashed by almost a quarter in the wake of Russia’s invasion of Ukraine.
Down from a high of € 37.52 ($AU58.76) on Monday, shares in Renault SA are now valued at € 29.22 ($AU45.70) – a dive of 22.1 per cent in just five days.The automotive giant owns a controlling stake in AvtoVAZ – the parent company of Russian marque Lada – as well as several factories in Moscow (shown below), and last week warned any military conflict in Eastern Europe could disrupt its supply chains.
A spokesperson for Ateco – the Australian distributor for Renault – told Drive it is currently unclear if local deliveries will be affected. However, given no Renault models sold in Australia are built in Russia, delays are unlikely.
Volkswagen and Stellantis – which both operate factories in the city of Kaluga – were hit hard by news of international sanctions on Russia, however neither saw the share price losses experienced by Renault during one of the worst days for global markets in recent memory.Russian aggression in Ukraine could have wide-reaching effects on the automotive industry, and experts expect fuel prices could rise to “unprecedented highs” in the coming weeks.
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