On the road to growth, Renault Group has outperformed expectations. The carmaker posted sales of €56.2bn and a record operating margin of €4.3bn, representing growth of 15%. Net profit was €2.8bn, but the impact of disposals of Nissan shares and an impairment loss on Nissan’s shareholding had a negative impact of €0.8bn. Its net financial position reached €7.1bn, up by €3.4bn in one year.

The manufacturer describes this as “a robust performance driven by the three complementary brands.” This is also explained by the increase in registrations, due to the growing impact of the launch of new models. On the commercial front, Renault Group renewed its vehicle range in 2024 with ten new launches and two restylings. As a result, the Renault brand climbed to third place in the passenger car and light commercial vehicle (LCV) markets. Its Dacia brand is one of the top 10 best-selling brands in Europe, and Alpine sales rose by 5.9% in 2024.

Renault Group is also reaping the benefits of its electrification offensive in 2024, with 33% of its sales in Europe (+4.1%). “The electric vehicle offensive is beginning to be reflected in the sales mix in the fourth quarter, with the EV mix reaching 12%, almost five points up on the rest of the year. The Renault brand’s electrified vehicles account for 49% of its sales in Europe,” says the manufacturer in its press release.

“Renault Group continues to improve its operational performance, execute its strategy and deliver on its targets. 2024 was an important year with the first benefits of our unprecedented product offensive. This performance is the result of an in-depth transformation of the company driven by a remarkable collective work. We have turned Renault Group into a much more flexible, efficient and performant company,” commented Renault Group CEO Luca de Meo.

For 2025, forecasts are optimistic and Renault Group should continue to “benefit from the impact of the 2024 launches, combined with the acceleration of cost reduction. These will drive operating performance and solid cash generation,” it predicts in the press release. However, it will have to contend with market uncertainties and the impact of CO2 emission regulations in Europe. The company is nevertheless targeting an operating margin in excess of 7% of sales.

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