PARIS -- Renault on Wednesday said it would suspend operations at its plant in Moscow while it assesses options on its majority stake in AvtoVaz, the country's No. 1 carmaker.
The French carmaker as a consequence revised its operating group margin to around 3 percent from at or above 4 percent.
Renault, which gets about 10 percent of its revenue from Russia, has been reluctant to pull back from the country as all other major automakers have since the invasion of Ukraine.
However the French automaker has faced increasing criticism after it resumed production this week at its Avtoframos plant near Moscow. The factory builds the Renault Duster, Kaptur and Arkana models, and the Nissan Terrano.