Iranian first vice-president urges domestic carmakers to boost exports

Iranian first vice-president urges domestic carmakers to boost exports

Azerbaijan, Baku, Jan. 1 / Trend F.Mehdi/

Iranian First Vice-President Mohammad-Reza Rahimi urged domestic carmakers to boost exports, IRNA reported.

The banking system should collaborate more with carmakers to reduce end prices and improve after sale services, he noted.

Industrial Development and Renovation Organization's chairman Gholamreza Shafei said on Monday that the main problem facing the Iranian car industry is not the international sanctions, but is the shortage of revolving capital.

Iranian carmakers are manufacturing at 50 percent of their nominal capacity, he said. This is due to the shortage of capital, the Fars News Agency quoted him as saying.

On December 18, ISNA quoted head of the union of Iranian car part makers Sasan Qorbani as saying that Iranian carmakers and car part makers have called for receiving financial facilities in order to give a boost to their outputs.

Most of carmakers and car part makers have not managed to receive foreign currency from the Forex Center, he said.

Prices of some certain raw materials have increased by 300 percent, he said, adding that the situation has led to a 50 percent fall in car production in the country.

The Central Bank has set the official rate of the dollar at 12,260 rials, while the street rate is currently at 30,200 rials and the Forex Center of Iran offers the dollar at 24,591 rials.
Iran's automobile market is highly protected against imports, allowing import of only 40,000 vehicles last year, despite steadily growing demand mostly met through domestic production of some 1.6 million cars per year.

Currently there is an estimated amount of 14 million vehicles in Iran - more than double of the six million registered in 2005.

Iran's car output in the first six months of the current calendar year (ended on September 21), fell by 42 percent compared to the same period last year.

On October 8, Iranian giant carmaker Iran Khodro (IKCO) increased its product prices by 10 percent, while the other Iranian carmaker, Saipa, boosted prices by 20 percent.

Decrease of domestic production and rise of import limitations as well as dollar price growth led to unprecedented increase in car prices in Iran.

On September 15, the ILNA news agency reported that prices of different cars increased by around 35 percent on the average since March 2011.

According to the report, supply has decreased but demand is still high.

Iran plans to manufacture at least three million cars by 2025 and export some one million sets, the Trade Minister Mehdi Ghazanfari said on June 16.

China's factory activity expands at a slower pace in February, misses expectations
China's factory activity expands at a slower pace in February, misses expectations
Australia receives AstraZeneca vials as it ramps up vaccination drive
Australia receives AstraZeneca vials as it ramps up vaccination drive
5.5-magnitude quake hits 81 km SW of Islay (Matarani), Peru
5.5-magnitude quake hits 81 km SW of Islay (Matarani), Peru
Loading Bars
Latest
Russia and Azerbaijan are friendly countries - President Aliyev
Russian-Turkish Monitoring Center will function as very important instrument for post-war period - President Aliyev
Armenian soldiers fled leaving two lonely elderly Armenian people behind - President Aliyev
We have no problems with Armenian people - President of Azerbaijan
“Smart village” project will be implemented in three villages of Zangilan district - President Aliyev
When Khojaly genocide was committed, world was silent - President of Azerbaijan
Turkey to open tender for Canal Istanbul in 2021
Armenian side did not provide us with maps of minefields, this can be considered crime - President of Azerbaijan
I can't understand why poster 'Welcome to Azerbaijan!' irritates Armenia in any way - President Aliyev
There cannot be prisoner of war 20 days after war, these are terrorists and saboteurs - President Aliyev
Armenia must fully implement the statement of 10 November - President of Azerbaijan
Some countries purchased three to four times more vaccines than they need - President of Azerbaijan
Azerbaijan - first country in South Caucasus to start vaccination, says President Aliyev
We have avenged victims of Khojaly on battlefield - President of Azerbaijan
Whole world sees and knows that Azerbaijani people were subjected to genocide at end of 20th century - President Aliyev
Russia’s COVID-19 case tally rises by 11,359
Azerbaijan reports 117 more COVID-19 recoveries
European Council President to visit Georgia today
Soyuz-2.1b carrier rocket with Arktika-M satellite blasts off from Baikonur spaceport
Certain villages in Iran to be supplied with gas
Bloody events in Sumgayit city - planned provocation against Azerbaijan - Foreign Ministry
Azerbaijan shares Eyvazkhanbeyli village of Aghdam district (PHOTO/VIDEO)
Iran's Tehran Oil Refining Company signs contract to increase refining
China's factory activity expands at a slower pace in February, misses expectations
Turkey set to support Croatia's post-quake revival: Turkish FM
COVID-19 Update: 83,179 Kyrgyzstanis recovered
Georgia reports 248 coronavirus cases, 525 recoveries, 11 deaths
Iran's Gorgan-Mashhad railway to be built
Trade relations between Azerbaijan and Russian Ulyanovsk region expanding
Weekly review of Azerbaijani ICT sector highlights
UK's Sunak will set out plans to raise income tax by 6 billion sterling
Australia receives AstraZeneca vials as it ramps up vaccination drive
January 2021 value of mortgage loans in Azerbaijan grows in absolute terms
Kazakhstan adds 791 new COVID-19 cases
5.5-magnitude quake hits 81 km SW of Islay (Matarani), Peru
Iranian Minister unveils ports' infrastructure dev't plans
Turkey confirms 9,193 new COVID-19 cases, 2,693,164 in total
S&P Global affirms Georgia’s sovereign credit rating at ‘BB’
Razi COVID-19 vaccine to begin clinical trial: Minister
5 died after accident in northeast China chemical fiber plant
US regulator approves Johnson&Johnson coronavirus vaccine
Kazakhstan twofold decreases exports to Norway amid COVID-19
Iraq reports 3,543 new COVID-19 cases, 692,241 in total
5.3-magnitude quake hits 3 km SW of Point MacKenzie, Alaska
Qatar reports 460 new COVID-19 cases, 163,197 in total
Weekly review of highlights in Azerbaijani financial market
UK records another 7,434 coronavirus cases, 290 deaths
It is necessary to end deployment of Armenian armed forces on territory of Azerbaijan - Foreign Ministry
WHO reports over 420,000 new daily cases of COVID-19
Istanbul’s major Galataport project to go live in April
0.03% of pupils and 0.1% of school staff in Georgia confirmed with Covid-19 this week
Iran's Energy Exchange announces products to be on sale on February 28
Uzbekistan's largest share in formation of GDP falls on Tashkent
Azerbaijan's revenues from tea, coffee exports double in Jan.2021
Cargo movements in Iran's Khalij-e-Fars port increase
China conditionally approves one-shot recombinant COVID-19 vaccine
Stock gains power Buffett's Berkshire Hathaway to higher profit
More than 165,000 apply for Turkey’s most popular scholarship
Georgian Railway resumes passenger transfers
Kazakhstan reports value increase in all types of deposits
New road put into operation in Iran's Golestan Province
Azerbaijan sets up working subgroups to prepare 2021-2025 Development Strategy
Bahar Azadi gold coin price falling in Iran
Azerbaijan reports 172 more COVID-19 recoveries
Azerbaijan's Ministry of Finance to put up medium-term bonds for auction
Azerbaijan's banking sector ends January 2021 with profit
Foundation of several manufacturing enterprises laid in Iran's Qazvin Province
Uzbek-Korean JV to buy spare parts for metal detector via tender
USAID to promote start-up dev’t in Turkmenistan
President Aliyev: Any attempt to violate implementation of November 10th declaration will be very harmful for Armenia (VIDEO)
Iran reveals COVID-19 data for February 27
Bosnian TV channel visits liberated Azerbaijani Aghdam, reminds of Khojaly genocide
Azerbaijani police officers find ordnances left by Armenians in Khojavand (PHOTO)
Long-term energy demand impact of COVID-19 is modest
President Aliyev to Iranian reporter: Your question is a kind of an accusation (VIDEO)
New Zealand's largest city Auckland back to lockdown after COVID-19 case
Iran pins hopes on Swiss financial channel to purchase COVID-19 vaccines
Foreign journalists visit village where two-year-old Azerbaijani girl was killed by Armenians
Volume of cargo loaded, unloaded in Iran’s Chabahar port revealed
Weekly review of Azerbaijan's oil and gas sector
Eni Turkmenistan Ltd opens tender for catering, housekeeping services
Kazakhstan boosts imports of Switzerland-made products
Uzbek ministry, German Society for International Cooperation sign agreement
Uzbekistan, China expand mutual trade despite COVID-19
Georgia reports 373 new cases of coronavirus on Feb.27
Buy/sell operations at Iran Mercantile Exchange soar
Weekly review of Azerbaijani precious metals market
Baku Metro continues preparatory work for commissioning of new 'November' 8 station
Iran's exports to Russia increase
Uzbek-Korean JV to buy spare parts for pumps via tender
Kazakh airlines eye to launch several flights on Turkestan-Istanbul route
UNDP in Turkmenistan opens tender for services on seismic work
Volume of electricity generated by renewable energy power plants in Iran announced
Researcher talks monuments on ancient Azerbaijani lands vandalized by Armenians (PHOTO)
Uzbekistan reveals COVID-19 data for Feb. 27
Azerbaijan's MoD shares footage from Gubadly's Afandilar village (PHOTO/VIDEO)
Iranian currency rates for February 27
Remittances from Azerbaijan to Georgia show highest growth rate
Belarus considering possibility of supplying agricultural machinery to Turkmenistan
Turkmenistan’s Turkmenbashi Oil Refinery exceeds plan for kerosene production
All news