Publishing its 2024 financial results, Renault Group showed solid growth and record operating profit in challenging market conditions. The Group revenue was €56.2 billion (+7.4%), and the operating profit was € 4.26 billion (7.6%). The net cash financial position almost doubled from €3.7 billion at the end of 2023 to €7.1 billion on December 31st, 2024.
“Renault Group continues to improve its operational performance, execute its strategy, and deliver on its targets,” said Luca de Meo, CEO of Renault Group. “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 remarkable collective work. We have turned Renault Group into a much more flexible, efficient and performant company,” he added.
“And we will not stop there! Thanks to the strong fundamentals built over the last 4 years and driven by an agile and innovative mindset, we are now preparing the next chapter, aiming for profitable growth while investing for the future. I want to thank our colleagues for these achievements: their passion, commitment, and team spirit are key drivers to our success,” de Meo looked forward.
Prudent forecast
Renault has a reasonably solid order book in Europe, with around two months of forward sales, but it stays prudent about its 2025 goals and expectations due to “market uncertainties primarily due to CO2 emissions regulation impact in Europe” (CAFE).
It aims to achieve a group operating margin of 7% or just over for 2025, including around 1 point of estimated CAFE negative impact.
In 2024, Renault Group launched ten new models and two facelifts, and it foresees seven launches and another two facelifts this year. The Renault brand was number three in PC and LCV sales combined in Europe and the number one brand in LCVs. Renault was number one in PC, LCV, and EV sales in France.
Low-cost daughter Dacia was also among the top ten best-selling brands in Europe and on the podium for sales to individual buyers, with Sandero being the best-selling car across all channels. Sports brand Alpine increased its sales by 5.9% last year and hopes to do much better in 2025 due to the arrival of the A290 and (later on) the A390.
Electrification is progressing
For the whole Renault Group, one-third of the cars sold were electrified, meaning that they were fully electric, plug-in hybrids, or ‘self-charging’ hybrids. Nine percent of these 33 percent were real BEVs. The latter’s share grew clearly in the fourth quarter, resulting in an EV mix of more than 12%.
The Renault brand posted a 49% electrified sales mix in Europe in 2024. It was number two in European hybrid sales, with a 30% increase. The 13% EV share climbed to 16% in Q4, mainly thanks to the R5 Electric sales coming under… st(r)eam. Thanks to its electrified sales in general, Renautl Group confirmed that it achieved its EU CAFE targets for passenger cars and light commercial vehicles in 2024.
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