Iran’s ranks 19 in world in terms of car production

Business Materials 1 December 2014 14:20 (UTC +04:00)

Baku, Azerbaijan, Dec. 1

By Umid Niayesh - Trend:

Over 724,000 cars have been produced in Iran during the first eight months of the current fiscal year (March 21- Nov. 22), Iranian Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh said.

The figure indicates that Iran's car manufacturing plan for the current fiscal year (to end on March 2015) has materialized by 95 percent, Nematzadeh said, Iran's official IRNA news agency reported Dec. 1.

The Islamic Republic plans to produce 1.2 million of cars by March 2015, he added.

The minister said that Iran ranked 17 in the world in terms of sedan car production and 19 in terms of total car output in 2014, which indicate two steps growth compared to preceding year.

It should be noted that Iran's automotive industry has started to revive thanks to suspended western sanctions on the country's carmakers.

Western countries suspended certain sanctions against Iran as the Geneva nuclear deal came into force on January 20. Iran was permitted to import materials for its auto-manufacturing sector as a result of the nuclear deal implementation, which has led to a sharp increase in the country's auto exports in recent months.

The Islamic Republic exported 10,744 sedans in the last Iranian fiscal year, with some 4,231 of that amount only exported in the latest Iranian month (Feb. 20- March 21).

Some 625,540 cars have been produced in Iran in the first seven months of the current fiscal year (March 21 to Oct. 22), indicating an increase by 71.4 percent year on year.

Sedan cars output stood at 530,313 in the mentioned period, 70.8 percent more than previous year.

The country produced 989,110 cars in 2012, which made it Asia's eighth largest car manufacturer. Iran's automobile output faced a 40 percent decrease in 2012 due to the sanctions. The country was Asia's fifth largest car manufacturer in 2011, with a total output of 1,648,505.

Edited by CN