Chinese carmakers determined to remain in Iranian market

Photo: Chinese carmakers determined to remain in Iranian market / Economy news

Baku, Azerbaijan, May 27

By Fatih Karimov - Trend:

Chinese carmakers are determined to remain in the Iranian market and compete with their international rivals.

Zhou Biren, General Manager of China's Chery International said that supplying durable cars at reasonable prices to the Iranian market is the company's strategy, Iran's IRNA news agency reported on May 27.

Addressing a press conference in Tehran, Biren said the company is planning to acquire a larger share of the Iranian market.

He predicted that the company would manufacture over one million cars in Iran in the current year, which would be a considerable growth year on year.

It should be recalled that the Western countries suspended certain sanctions against Iran as the Geneva nuclear deal came into force on Jan. 20.

Iran was permitted to import materials for its auto manufacturing sector as a result of the nuclear deal implementation, which seems to have led to sharp increase in country's auto exports in recent months.

Iran exported 10,744 sedans during the last Iranian calendar year, which ended on March 20, 2014, with some 4,231 of that amount only exported in the latest Iranian month.

Iran exported $27 million of sedan cars only in the last calendar month which is even more than half of the total yearly export value.

Iran produced 989,110 cars in 2012, which made it Asia's eighth largest car manufacturer, however the country's automobile output faced a 40 percent decrease in 2012 due to sanctions. Iran was Asia's 5th largest car manufacturer in 2011, with a total output of 1,648,505.

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