Iran’s sedan imports fall by 51%

Business Materials 24 June 2015 16:56 (UTC +04:00)

Baku, Azerbaijan, June 24

By Umid Niayesh - Trend:

Iran has imported 10,555 sedan cars, worth $245.79 million during the first three months of the current Iranian fiscal year (March 21- June 21), Ali Maghouli, an official with the Iranian Customs Administration said.

Iran's sedan imports registered a fall by 51 percent in terms of amount and 46 percent in terms of value during the period year on year, Maghouli said, Iran 's Fars news agency reported June 24.

The Islamic Republic imported 6224 sedan cars in the calendar month of Khordad (May 22-June 21), worth $132.9 million.

It should be noted that Iran has banned importing cars with engines up to a 2500CC capacity.

Iran's sedan car imports stood at 102,000, worth $2.128 billion during last fiscal year (ended on March 21), 31 and 30 percent more in terms of amount and value respectively year on year.

Some 1.13 million cars have also been produced in the country in the past fiscal year (ended on March 21).

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 led to a sharp increase in the country's auto output.

Edited by CN

Follow the author on Twitter: @UmidNiayesh