Iran’s car exports fall by 91 percent

Business Materials 3 November 2013 11:52 (UTC +04:00)

Azerbaijan, Baku, Nov. 3 /Trend N. Umid/

Iran exported 3,043 sedans during the first seven months of the current solar year (which started on March 21) which indicates a 91 percent decrease compared to the same period of last solar year.

According to the Iranian Custom Administration's latest monthly report released in November, the value of the exported cars was around $21 million which is 89.32 percent less than in the same period of last year. The average car price was $6,907, which indicates a 18.62 percent increase this year. Iran has exported 1,931,508 and 204 sedan cars to Iraq, Azerbaijan and Egypt respectively during the period.

Iran imported 30,369 sedan cars, worth $621 million during seven months, which indicates an increase of 30.8 and 19.59 percent respectively in terms of volume and value compared to the first seven months of last solar year. The average price of the imported cars was $ 20,434, which indicates an 8.57 percent decrease in price compared to last year.

Iran has imported 21,409, 6,122 and 1,138 cars from the UAE, China and Kuwait respectively during the period.

Iran produced 989,110 cars in 2012, which made the country Asia's eighth largest car manufacturer.

Iran's automobile output faced a 40 percent decrease in 2012. The country was Asia's 5th largest car manufacturer in 2011, with a total output of 1,648,505.

Increasing prices on raw materials and foreign currencies are car manufacturers' main problems in Iran.