Iran's IKCO output increases by 72%
Baku, Azerbaijan, Feb. 22
By Umid Niayesh - Trend:
Iranian giant car manufacturer Iran Khodro(IKCO) has produced 557,956 cars during the first eleven months of the current Iranian fiscal year (March 21, 2014- Feb. 20).
The company's car output indicates an increase of 72 percent compared to the same period of last year, IKCO's official website reported Feb. 22.
The IKCO company produced over 61,369 cars including sedans and pickups during the last Iranian calendar month (Jan. 20-Feb.20), up 4 percent compared to the preceding month.
Iran has not yet announced its total car output during the 11-month period.
Some 930,449 cars have been produced in Iran in the first ten months of the current Iranian fiscal year (March 21, 2014-Jan. 20), 61.4 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.
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