Renault reveals electrified vehicle sales surge in Europe

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Renault has announced that electrified vehicles (EV) made up 29.6 percent of its Group sales in Europe during the second quarter of 2024.

The increase of 4.3 percentage points compared to the same period in 2023 was significantly driven by the rising popularity of hybrid powertrains, with sales surging by 59.6 percent compared to the first half of 2023.

Renault expects that electrified vehicles, encompassing both fully electric and hybrids, will surpass 50 percent of sales in the second half of 2024.

Nearly one in every two passenger cars sold by the Renault is now electrified, thanks to the success of its hybrid engines. Renault has become Europe’s second-largest brand in the hybrid passenger car market, with models such as Clio, Austral, and Captur ranking among the top 10. All-electric vehicles accounted for nearly 12 percent of Renault sales, a figure expected to grow in the second half of the year with the launch of the Scenic E-Tech Electric and Renault 5 E-Tech Electric.

Dacia, another brand under Renault, reported that nearly 10 percent of its sales were electrified vehicles, with the Jogger Hybrid 140 being particularly successful. Alpine, Renault’s sports car brand, has also entered the electric market with the reveal of its first all-electric hot hatch, the A290, in June 2024. Orders for the A290 are set to open this summer.

Renault’s first-half sales volume rose by 1.9 percent year-over-year, totaling 1,154,700 vehicles globally, up from 1,133,478 units last year. Europe accounted for nearly three-quarters of this volume, with sales in the region growing by 6.7 percent, outpacing the market growth of 5.5 percent. Electrified vehicles, including fully electric and hybrids, accounted for 29.6 percent of the Group’s sales in Europe, up 4.3 percentage points from 2023.

Despite a slowdown in demand for electric vehicles in Europe, with only a 1.3 percent increase in sales in the first half of the year, there has been a strong demand for more affordable and convenient hybrids. Renault is capitalizing on this trend by introducing additional hybrid models. The company’s sales of hybrids accounted for 34.6 percent of the brand’s volumes, up from 25 percent a year ago.

Renault’s growth momentum, which resumed last year after four consecutive years of declining unit sales, is bolstered by the introduction of 10 new models this year. The first half of the year saw a slight slowdown in growth during the second quarter, which Renault attributes to decreased demand in international markets like South Korea, India, and Argentina.

Renault brand CEO Fabrice Cambolive stated that the company’s strategy in Europe is centered around hybrid growth. He noted that the launch of new models offered exclusively in hybrid versions will continue, responding to the strong demand for this type of engine, Reuters news report said.

While fully electric vehicle sales remained stable at 11.6 percent of the total mix in Europe, they are expected to increase in the second half of the year with the launches of Scenic EV and the new R5.

Baburajan Kizhakedath

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