Renault for the first half of 2016 has received a loss of 75 million Euros

OREANDA-NEWS. Renault company for the first half of 2016 in connection with participation in the activities of the Russian carmaker AvtoVAZ has received a loss of 75 million Euros. The amount of the loss was less by 13.8% than in the first half of 2015 (87 million Euros).

In its release, the press service of the French company also shares the following information: “Renault Group continued to provide technical assistance to AvtoVAZ for multiple car projects, engines and gearboxes. Renault has provided the consulting services in such areas as procurement, quality management and IT”. During the first half of 2016 the price of these services was € 8 million (in 2015 it was 45 million Euros, including 14 million Euros in the first half).

According to "Interfax”, Renault also gave the loans for AvtoVAZ in the amount of 104 million Euros in the first half (as of June 30th, 2016).