Renault is the world’s leading French automotive and motor carrier manufacturer.
It is headquartered in “Boulogne-Billancourt” and the largest manufacturer and exporter of motor vehicles in France. The firm was originally found by “Renault Brothers” named Louis Renault and his brothers Marcel and Fernand after Louis had built a minicar at home, and since its inception has become a global brand name in the automobile industry worldwide.
The first model built by them, used direct transmission, which was an automotive novelty at that time. The firm received its first order in early 90s and soon became a known manufacturer in the industry.
In 1905 the company introduced the first of its two bestselling models in the market which came widely into use as taxicabs. Renault also contributed during World War I by producing shells, aero plane engines, and light weighted tanks. After the war the company continued its expansion of factories and product lines, which included buses, trucks and tractors along with the existing car models.
In 1979, Renault entered into US market by signing an agreement with American Motors Corporation which sold Renault products through its dealer network. In 1987, however, Renault withdrew from its agreement with AMC and announced its plans to buyout other automobile giant Chrysler Corporation. In 1994, the French govt. privatized Renault, by selling the shares until it retained only 50.1% stake in the company.
Over the last decade, Renault has expanded and consolidated its position in international markets, by primarily focusing on markets in China, India, Brazil, Russia and Iran and is expected to continue its expansion in these countries. Its collaboration with NISSAN has also yielded in positive growth by simplifying its penetration in developed markets.
In 2015, Renault group revenues grew up 10.4% to reach $50.3 billion. Its operating margins grew by 5% with the help of registration for 2.8 million units which is 3.3% more than in 2014.