Baku, Azerbaijan, Jan. 19
By Umid Niayesh - Trend:
The Islamic Republic has imported about 70,000 cars from the beginning of the current Iranian fiscal year (started on March 21, 2014), Farhad Ehteshamzadeh, head of Iran's Car Importers Assosiation said.
The figure is equal to 10 percent of Iran's total car output during the period, Ehteshamzadeh said, the country's official IRIB news agency reported Jan. 19.
He added that Iran's annual car output would reach 100,000 by March 21, or 8 percent of the forecasted car production for current fiscal year.
He said that the customs tariff for car imports is 40 to 55 percent, adding total costs including taxes is equal to 130 percent of the imported car price. The aforementioned costs share about 55 percent of the foreign cars' price in Iran's market.
It should be noted that Iran has banned importing cars with engines up to a 2500CC capacity.
Tehran imported over 78,670 cars, worth $3 billion in last fiscal year (ended on March 2014).
The Islamic Republic has produced some 825,389 cars in the first nine months of the current fiscal year (March 21-Dec. 22, 2014), 64.3 percent more year on year.
Tehran produced 989,110 cars in 2012, which made the country Asia's eighth largest car manufacturer. Iran also stood at the world's 18th place in the mentioned year.
The Islamic Republic'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.
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 output in recent months.
Edited by CN
Follow the author on Twitter: @UmidNiayesh