Renault vs SAIC Motor: Revenue, Profit and Business Model
Renault had ~$65.5B of annual revenue in FY2025 and a net loss of ~$12.4B. SAIC Motor had ~$91.2B of annual revenue in FY2025 and ~$1.4B of net income.
Latest financial snapshot
Renault
- Latest annual revenue
- ~$65.5B (FY2025)
- Net income
- ~-$12.4B
- Net margin
- -18.9%
- Revenue growth
- +1.4% a year, FY2016–FY2025
SAIC Motor
- Latest annual revenue
- ~$91.2B (FY2025)
- Net income
- ~$1.4B
- Net margin
- 1.5%
- Revenue growth
- -4.2% a year, FY2021–FY2025
Financial summary
Renault
Renault's revenue grew from ~$47.1 billion (EUR41.66 billion) in 2021 to ~$65.4 billion (EUR57.92 billion) in 2025 under the Renaulution value-over-volume plan. Group operating margin peaked at 7.9% in 2023, eased to 7.6% in 2024, and fell to 6.3% (~$4.1 billion (EUR3.63 billion)) in 2025 because of price pressure. The FY2025 net loss of ~$12.4 billion (EUR10.93 billion) came mainly from accounting changes and impairments on the Nissan stake, not from operations. In H1 2026, revenue rose 9.5% to ~$34.2 billion (EUR30.25 billion), operating margin was ~$1.81 billion (EUR1.6 billion) (5.2%), net income was ~$791 million (EUR0.7 billion) and automotive free cash flow was ~$738 million (EUR653 million). Renault confirmed 2026 guidance of about a 5.5% operating margin and about $1.13 billion (EUR1 billion) of automotive free cash flow. Renault Group is a historic French multinational automobile manufacturer, maintaining a market valuation generally exceeding $15 billion and operating as a core pillar of the Renault-Nissan-Mitsubishi Alliance.
SAIC Motor
Revenue peaked at ~$108 billion (CN¥779.8 billion) in 2021, then fell to ~$87.2 billion (CN¥627.6 billion) in 2024 as joint-venture volumes shrank, and net profit dropped to ~$232 million (CN¥1.67 billion) that year. 2025 brought a rebound: revenue rose 4.6% to ~$91.2 billion (CN¥656.24 billion) and attributable net profit rose to ~$1.41 billion (CN¥10.11 billion). In the first half of 2026 revenue was flat at ~$41.5 billion (CN¥298.65 billion), net profit fell 14.4% to ~$716 million (CN¥5.15 billion), and operating cash flow rose 158% to ~$7.55 billion (CN¥54.3 billion). The board proposed a 2025 cash dividend of CN¥2.66 per 10 shares, about $423 million (CN¥3.04 billion) in total. SAIC Motor Corporation Limited is a colossal Chinese state-owned automotive design and manufacturing company, sustaining a market valuation typically exceeding $20 billion.
Revenue and profit by year
Renault
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$65.5B | ~-$12.4B | -18.9% | +3.0% | Source |
| FY2024 | ~$63.5B | ~$849.8M | 1.3% | +7.4% | Source |
| FY2023 | ~$59.2B | ~$2.5B | 4.2% | +13.1% | Source |
| FY2022 | ~$52.4B | ~-$400M | -0.8% | +11.2% | Source |
| FY2021 | ~$47.1B | ~$1B | 2.1% | -4.2% | Source |
| FY2020 | ~$49.1B | — | — | -21.7% | Source |
| FY2019 | ~$62.8B | — | — | -3.3% | Source |
| FY2018 | ~$64.9B | — | — | -2.3% | Source |
| FY2017 | ~$66.4B | — | — | +14.7% | Source |
| FY2016 | ~$57.9B | — | — | — | Source |
SAIC Motor
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$91.2B | ~$1.4B | 1.5% | +4.6% | Source |
| FY2024 | ~$87.2B | ~$231.6M | 0.3% | -15.7% | Source |
| FY2023 | ~$103.5B | ~$2B | 1.9% | +0.1% | Source |
| FY2022 | ~$103.4B | ~$2.2B | 2.2% | -4.6% | Source |
| FY2021 | ~$108.4B | ~$3.4B | 3.1% | — | Source |
Where the revenue comes from
Renault
- Vehicle salesMajority
Sales of Renault, Dacia, Alpine, EV, hybrid, and light commercial vehicles.
- Financing and services
Meaningful
Sales financing, leasing, mobility, service contracts, and related customer finance.
- Parts and aftersales
Meaningful
Replacement parts, accessories, maintenance, and dealer-network aftersales.
- Partnerships and technologySmaller
Powertrain, platform, and alliance-linked strategic activities.
SAIC Motor
- Vehicle sales (own brands and consolidated JVs)
Not formally reported
Sales of MG, Roewe, IM Motors, Maxus and Wuling vehicles in China and overseas.
- Auto parts (HASCO / Huayu Automotive)
Not formally reported
Interiors, lighting, chassis, thermal and e-drive parts sold to SAIC and other carmakers.
- Joint-venture investment income
Not formally reported
SAIC's share of profits from 50:50 joint ventures with Volkswagen and General Motors.
- Finance, logistics and mobility services
Not formally reported
Auto loans and dealer financing, Anji Logistics vehicle transport, and mobility services.
Business model and strategy
Renault
How it makes money
Renault makes most of its money by designing, building and selling passenger cars and light commercial vehicles under the Renault, Dacia and Alpine brands, mostly in Europe. Mobilize Financial Services (formerly RCI Bank and Services) adds loans, leases, insurance and dealer financing.
Growth strategy
Renault's current strategy is futuREady, presented by CEO Francois Provost on March 10, 2026. It rests on four priorities (growth, tech, resilience and trust) and plans 36 new models by 2030, faster technology roadmaps, wider use of AI in operations, and a new relationship with suppliers. Product launches shown with the plan included the Dacia Striker and the Renault Bridger concept.
Competitive advantage
Renault's main edge is cost-disciplined value. Dacia reuses proven group platforms and builds in lower-cost plants in Romania and Morocco, and the Sandero was the best-selling passenger car in Europe across all channels in H1 2026.
SAIC Motor
How it makes money
SAIC makes money mainly by building and selling vehicles. Revenue is consolidated from its own brands (MG, Roewe, IM Motors, Maxus/LDV), from consolidated joint ventures, and from parts maker HASCO (Huayu Automotive Systems).
Growth strategy
SAIC's growth plan centres on its own brands and overseas markets. MG is the export spearhead, with local assembly in Thailand, Indonesia and India and plans for more local production to work around tariffs. At home, SAIC is moving Roewe, MG and IM Motors onto new EV and plug-in hybrid platforms, and working with partners such as Huawei, Audi and Alibaba on software and premium models.
Competitive advantage
SAIC's advantages are scale, a long head start in exports and a well-known Western brand. MG gives it an established dealer network in the UK, Europe, Australia, India and the Middle East. It also has backing from the Shanghai government, its own parts supplier in HASCO, its own car logistics arm in Anji Logistics, and four decades of manufacturing know-how from working with Volkswagen and GM.
Questions about Renault vs SAIC Motor
Which company has higher revenue — Renault S.A. or SAIC Motor?
Renault S.A. had ~$65.5B (FY2025), while SAIC Motor had ~$91.2B (FY2025). By latest annual revenue, SAIC Motor is the larger business, with Renault S.A. showing a smaller revenue base.
What is the market cap of Renault S.A. vs SAIC Motor?
Renault S.A.'s market capitalisation stands at $8.6B, while SAIC Motor's is $17.0B. SAIC Motor carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Renault S.A..
How does revenue per employee compare for Renault S.A. and SAIC Motor?
Renault S.A. has $668k / employee in revenue per employee, while SAIC Motor has $507k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do Renault S.A. and SAIC Motor make money?
Renault S.A. and SAIC Motor generate revenue in fundamentally different ways. Renault S.A.: Renault makes most of its money by designing, building and selling passenger cars and light commercial vehicles under the Renault, Dacia and Alpine brands, mostly in Europe. SAIC Motor: SAIC makes money mainly by building and selling vehicles.
Which company is valued higher relative to revenue — Renault S.A. or SAIC Motor?
On a price-to-sales (P/S) basis, Renault S.A. trades at 0.1x P/S and SAIC Motor at 0.2x P/S. SAIC Motor commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Renault S.A.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Renault S.A. bigger than SAIC Motor?
By last reported revenue, SAIC Motor (~$91.2B (FY2025)) is the larger company compared to Renault S.A. (~$65.5B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Renault vs SAIC Motor overview