Iran achieves steep increase in vehicle production
Iran’s car output rose by 75% in first four months of the fiscal year
Car production in Iran increased significantly during the first four months of the current financial year.
More than 325,000 cars were manufactured in the country between 21 March and 20 July 2014, representing a 75.7% increase compared to the same period of 2013.
Iran manufactured 989,110 vehicles in 2012, making it Asia’s eighth-largest automotive manufacturer. However, output fell by 40% in 2012 following the implementation of economic sanctions by Western countries.
However, a number of these sanctions were suspending after the Geneva nuclear deal came into effect on 20 January 2014. Subsequently, Iran was permitted to import materials for its auto manufacturing sector. The country exported $27mn of sedan cars during the last calendar month.
According to Islamic Republic of Iran Broadcasting (IRIB), 276,739 sedan cars were produced during the first four months of the current fiscal year, 75.2% more than the same period of 2013. Iran also produced 44,714 pickup trucks, 3,136 trucks, 63 buses, and 20 minibuses during this window.