French automaker Renault unexpectedly found itself in a profitable position compared to its competitors during the trade war started by US President Donald Trump. This is reported by the Financial Times .
The company has almost no sales in the United States, so the 25% tariff on imported cars practically does not affect it, unlike its competitors: Toyota, Volkswagen, General Motors and Hyundai.
Two-thirds of Renault's sales come from Europe, where the impact of the US tariffs is less severe.
“I have experienced very difficult moments in the last four years as Renault's CEO, but at least in this case I should not be the one to worry first,“ said Renault CEO Luca de Meo.
Renault has a smaller production capacity and geographical presence compared to other carmakers, and the company produces fewer cars but with higher margins.
Under de Meo's leadership, Renault has carried out a deep reorganization, improved its cost structure and updated its model range.
The company intends to increase The company is aiming to increase the share of electric vehicles in its sales mix from 12% to 20% and close the gap with Toyota in the European hybrid car market. The Japanese automaker currently controls 48% of the market in the region, while Renault's share is 20%.
“I want to take Renault to the Champions League final because I am sure we have both the potential and the resources to do so“, de Meo said.
However, the FT points out that while Renault is not directly affected by the tariffs, the general slowdown in the global market and the chaos caused by the US actions could negatively affect the company's plans to expand its share of the electric and hybrid car market.
Renault's share price fell 9% after Trump announced the tariffs, reflecting investor concerns about the indirect impact of the trade war.