Autorenew vehicles openTTD

With the settings as shown above, vehicles should be automatically autorenewed. But for autorenewing, vehicles should be inside a depot.

Probably, your vehicles don't visit any depot. This happens when playing with breakdowns disabled and the setting "Disable servicing when breakdowns set to none: On". In this case, you can disable the former setting or send your vehicles to visit any depot (you can send all of them with a few clicks). Autorenewal of all vehicles will take some time.

Autorenewing can also fail if the vehicle has expired and you can't buy new ones. As you can renew vehicles individually, that may not be the case. See https://wiki.openttd.org/Never_expire_vehicles for more information.

In OpenTTD, you also must know that a vehicle can be: 1.- renewed: an old Hereford Leopard Bus is sold an a new one occupies its place. 2.- replaced with a different model (usually with better specs): ie Hereford Leopard Bus -> Foster Bus.

I think that in this case, you would like to autoreplace the vehicles instead of autorenew them. See: https://wiki.openttd.org/Replace_vehicles