Renault posts record operating profit for 2024, warns of EU emissions rules

By Tuba Ongun

Renault Group has reported a record operating profit of €4.26 billion ($4.49 billion) for 2024, exceeding expectations while it cautioned that tightening European carbon emissions regulations could weigh on its performance in 2025.

The figure increases €146 million or 3.5% from the previous year, according to a statement from the French automaker on Thursday.

Renault's revenue reached €56.2 billion, up 7.4% from 2023, driven by an improved product mix, pricing actions, and robust aftermarket sales.

Automotive revenue amounted to €50.5 billion, up by 4.9% overcoming currency headwinds from markets such as Argentina and Türkiye.

Adjusted for impacts from the Horse operations, the group’s operating margin rose from 6.9% to 7.4%.

Renault solidified its position as a market leader in Europe, ranking third among original equipment manufacturers (OEMs) in passenger cars and light commercial vehicles.

The Renault brand maintained its number one position in France across multiple segments, including electric vehicles.

Renault’s electrification strategy showed significant progress, with electrified vehicles making up 33% of European sales, up 4.1 percentage points from 2023. The brand now ranks second in Europe for hybrid sales, with a 36% mix in 2024.

Renault warned of uncertainties in 2025, particularly regarding the impact of stringent EU CO2 emissions regulations under the CAFE framework.

Therefore, the group revised its margin forecast for 2025 to a minimum 7%.

The margin is projected to reduce by one percentage point, equivalent to around €500 million in operating profit.