Fiat comments on possibility of returning to Iran (Exclusive)

Business Materials 10 July 2018 17:55 (UTC +04:00)

Baku, Azerbaijan, July 10

By Leman Zeynalova – Trend:

Fiat Chrysler Automobiles (FCA) doesn’t plan to be back in Iran, the company told Trend.

“FCA has no plans to return to the Iranian market,” said the company.

Fiat halted sales to Iran in 2012 following similar moves by other car makers under US pressure to cut ties with Tehran.

Earlier, Head of the Iranian Automobile and Spare Parts Importers Association Meysam Rezaei said Fiat is planning to return to Iran’s market.

Fiat is poised to resume vehicle sales in Iran and reclaim its share in its lucrative market in the framework of a cooperation agreement with a private Iranian automaker, Rezaei told Tasnim.

According to the terms of the deal, Fiat will grant its exclusive production and marketing rights to Artman Kish Motor Company, he added.

Artman Kish Motor Company announced recently that it had been established as the official representative of Italian automaker Fiat in Iran with permits to assemble its selected models.

Rezaei further said the two would cooperate to produce 16 models of Fiat in the country, taking into account Iran’s domestic standards.

Fiat will import knockdown (CKD) and completely build units (CBU) motor vehicles to Iran, he continued.

CBU would mean that the car is completely imported to Iran from the country of origin. CKD (Completely Knocked Down) would mean that certain parts of the car are shipped to the country of sale where they will be assembled to form a complete car.

Fiat Chrysler Automobiles N.V. is an Italian/American corporation and currently the world’s eighth largest auto maker. The group was established in late 2014 by merging Fiat and Chrysler into a new holding company, Fiat Chrysler Automobiles.

Fiat Chrysler Automobiles designs, engineers, manufactures and sells vehicles and related parts and services, components and production systems worldwide through 159 manufacturing facilities, 87 R&D centers, and dealers and distributors in more than 140 countries.


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