Iran exports 49,952 cars in 11 months

Business Materials 5 March 2013 15:43 (UTC +04:00)

Azerbaijan, Baku, Mar.5 / Trend F.Mehdi/

Iran exported 49,952 cars, valued at about $294 million, during the first 11 months of the current Iranian calendar year which began on March 20, 2012, the Mehr News Agency reported.

During the same period in the previous year, 18,455 cars worth $96 million were exported. Iraq, Ukraine and Azerbaijan were the main importers of Iranian cars.

Meanwhile, 38,399 cars valued at $932 million were imported into Iran during the 11 month period. The UAE, South Korea and Kuwait were the main sources of car exports.

On February 3, ISNA reported that the Iranian administration has decided to reduce car import charges by five per cent in a bid to create a balance in the price of cars on the domestic market.

Car import charges will be decreased by five per cent in the next Iranian calendar year which begins on March 21.

Industrial Development and Renovation Organisation's chairman Gholamreza Shafei said in December 2012 that the main problem facing the Iranian car industry is not international sanctions, but shortage of revolving capital.

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

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