Renault plans push beyond Europe to boost sales by 2030

By Gilles Guillaume

GUYANCOURT, France, March 10 (Reuters) – Renault plans to sell half of its Renault brand cars overseas by 2030 and grow volumes by over a fifth, it said on Tuesday, as it looks to tap growth outside Europe to remain competitive in a tough global market.

The French automaker faces intensifying competition from low-cost Chinese players including BYD and Chery as well as traditional rivals like Stellantis in its key European market, creating mounting price pressure that has eroded profit margins.

Under its new five-year “futuREady” strategy, Renault plans 36 new models in the next five years, including 14 outside Europe, compared with just eight in the previous five years.

Those will include four in the Indian market, said Fabrice Cambolive, Renault brand CEO, with production of the small Bridger SUV to start next year before being quickly rolled out in other markets.

The international push, accompanied by plans to slash the cost of its EV models, signals a renewed emphasis on overseas sales after Renault retreated from several markets under former CEO Luca de Meo as part of an effort to address heavy losses.

“We have proved we can win, now we must prove we can last,” CEO Francois Provost, a company insider who took over from de Meo last year, told analysts at a presentation at the firm’s research-and-development centre outside Paris.

Michael Foundoukidis, an analyst at Oddo BHF, said a focus on high-margin, C-segment efficiency under the plan and the international push provided “a clear roadmap for margin resilience”, though execution would be key.

Renault shares were up 1.1% at 1445 GMT, less than other European auto stocks.

NEW MODELS, MORE SALES OUTSIDE EUROPE

The automaker is targeting sales of more than 2 million Renault-brand vehicles per year by 2030, up 23% from 1.63 million cars sold in 2025. Half of those it aims to sell outside Europe, compared to 38% last year.

While Renault is now in better shape, competition is heating up. And a pullback in support for electric vehicles in the United States under the Trump administration has triggered huge writedowns and abrupt strategic reversals at some rivals.

Renault, which has no U.S. or Chinese presence, will launch 16 pure electric models by 2030, or 44% of its planned models. It will also use its Horse Powertrain joint venture with Geely to develop a smaller engine for hybrids. Renault has leaned on hybrids to manage weaker-than-expected European EV demand.

To counter lower-cost Chinese rivals, it plans to cut the cost of its EVs by 40% by 2030, with CEO Provost saying new models would use 30% fewer parts.

For example, he said, powertrains in early EVs had seven components – including an inverter and motor – but Chinese automakers developed an all-in-one solution instead.

“It’s simpler. There’s less material,” Provost told reporters. “We saw that, and we bought it for the new (Renault) Twingo.”

The company will also shave 1,000 euros ($1,164.00) off the cost of its hybrid models through competitive sourcing.

Renault, the smallest of the legacy carmakers, said it would rely largely on in-house technology to develop competitive European products. And it will lean on partners like China’s Geely to significantly boost its international sales in South America and South Korea.

($1 = 0.8591 euros)

(Reporting by Gilles Guillaume; Writing by Dominique Patton; Editing by Joe Bavier)