Iran’s auto market more competitive after nuclear deal

Business Materials 3 December 2017 16:06 (UTC +04:00)
Iran’s auto market more competitive after nuclear deal

Tehran, Iran, December 3

By Mehdi Sepahvand - Trend:

Iran’s nuclear deal implying removal of sanctions has helped create a more competitive atmosphere in the Iranian auto market, according to an official with Chery, the first Chinese car exporter to Iran.

"The nuclear deal brought a more competitive atmosphere, and it is a good thing, since the more competitiveness, the higher products and services grow in quality," Babak Sadraei, Chery’s head of marketing in Iran, told Trend December 1.

He added this is why Chery, as the luxury brand of MVM, has been introducing newer and higher models in the current year and will do so next year.

"This year we introduced the Tiggo 7 as well as Arrizo 5 Turbo in Iran," Sadraei said, expressing hope that if demand rises, the company may even consider local production.

"Right now we are finishing 25 percent of the products inside Iran. If the number of products rises, then we will surely go for local production and using the capacities of local part makers," he said optimistically.

Chery’s local operation — active under the brand name Modiran Vehicle Manufacturing Co. — reported 37 percent growth in total output in the first five months of the current Iranian fiscal year (which started March 21). The company assembled 38,303 cars during the period.