A number of new model launches, including hybrid and all-electric vehicles, helped Renault Group deliver a rise in sales in Europe last year.
ADVERTISEMENTCar manufacturing giant Renault Group has revealed an increase of 3.5% in European sales for 2024. which was an increase of 3.5% from the previous year.
The group sold 1,599,051 cars in Europe with its popularity mainly boosted by new model launches, as continues its focus on electric offerings and value-for-money sales policy.
France, Italy, Turkey, Spain and Germany were Renault Group’s top European markets, with Morocco, India and South Korea performing well for the group, outside of Europe.
Globally, the group’s sales were up 1.3% on 2023, with sales of 2,264,815 units. South Korean sales soared 80.6% in the year, with the Grand Koleos launch being a big draw. Brazilian sales climbed 10.3%, driven by Kardian sales.
Renault Group gears up for electrification of models
Renault continued to invest heavily in ramping up its electric vehicle (EV) and hybrid offerings in 2024, seeing 9% of its sales being EVs. Some 34.7% of electrified sales were in Europe last year, a 4.3% increase from the previous year.
Renault Group’s heavy focus on electric vehicles comes at a time of increasing competition in the electric vehicle market from Chinese manufacturers. This has led to several European car makers losing market share as they struggle to compete with models from Chinese firms that cost less and offer a wider range of features.
The EU has imposed tariffs on Chinese EV makers including Geely, SAIC and BYD, because of rising concerns that the companies are gaining an advantage over their European rivals through heavy government subsidies.
Concerns over the economy and potential job losses, together with geopolitical uncertainty means people who might otherwise buy a new car, are being more careful about spending money. This has also contributed to European EV makers seeing dampened sales.
