“I think it is fair to say that so far this season we cannot be entirely happy with what we have achieved,” said Hulkenberg ahead of the German Grand Prix.
“To start with we had a lot of issues and missed out on results, but a little bit more disappointing is where we are in terms of pace and development rate. It is not really where we needed or wanted it to be.
“So behind expectations this year probably all in all, as well as not entirely happy if you look across the three years. We cannot be entirely happy with everything that we have done.”
Although Renault has shown flashes of strong form this year, it has also endured big frustrations which were not helped by reliability woes earlier in the campaign.
While the team’s short-term ambition is to close the gap to McLaren, Hulkenberg thinks there is potential for bigger gains in the longer term.
“The outlook is still good, we still see light at the end of the tunnel,” he said. “I do believe we can still catch up to some extent. How much is always difficult to say with entire certainty, but we see what happens in the future and we see what happens to me as well.
“For me there is nothing set in stone but I think it is quite likely that I will remain with the team.”