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Iranian carmakers manufacture 404,000 cars over 5 months

Iran Materials 31 August 2014 15:06 (UTC +04:00)

Baku, Azerbaijan, Aug. 31

By Fatih Karimov - Trend:

Iranian carmakers manufactured 404,000 cars in the first 5 months of the current year.

In comparison with the past year, the car output rose by 73.4 percent, Iran's Mehr news agency reported on August 31.

In the past Iranian year, which ended on March 20, Iran imported 78,673 cars, showing 75 percent rise year on year.

In February, Iranian MP Ali Alilou said Iran is planning scrap all car import tariffs in the next two years.

Alilou, who is a member of the parliament's industries and mines committee, said the measure is necessary to boost domestic production and make the auto industry competitive.

He urged the government to stop propping up Iran's struggling automobile sector, which has been criticized for the low quality and high prices of its products.

Iran's car exports dropped by over 800 percent in 2013 compared to the year before.

However, after an easing of sanctions in the wake of the six-month interim deal with the world powers in Geneva, Iran's car exports increased significantly.

On the other hand, after a 5-year hiatus, Russia received its first batch of Iranian made cars on June 28.

According to the monthly reports of the Iranian Customs Administration, the country exported around $42 million worth of cars between December 22, 2012-December 22, 2013 (Iran's fiscal year), while the value of exports was $338 million in the previous fiscal year.

Since signing the interim nuclear deal, between January 20 and March 20, Iran exported $43 million worth of cars, more than it had exported in the whole 2013.

Iraq accounted for half of the import of Iranian cars. Azerbaijan accounted for 25 percent, Ukraine and Egypt accounted for the rest.

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