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Iran’s major automaker output grows by 8%

Business Materials 30 June 2017 16:13 (UTC +04:00)

Baku, Azerbaijan, June 30

By Emil Ilgar – Trend:

Iran’s giant automaker Iran Khodro's output has increased by 8 percent during the first quarter of the current fiscal year, started Mar.21.

The company manufactured 144,667 various passenger cars during the mentioned time, IRNA reported June 30.

According to the report, Iran’s industrial value-added products during last fiscal year grew 6.9 percent (compared to 2011’s fixed prices) to 781 billion rials.

Official USD rate in Iran during last fiscal year was 32,490 rials, while the rate in open markets was about 38,000 rials.

The Iranian Ministry of Industry, Mine, and Trade has recently published a plan for the 2025 vision development on June 2.

The Iranian Ministry of Industry, Mine, and Trade has recently published a plan for the 2025 vision development on June 2.

According to the plan, the production of sedans and vans is set to increase from the current 1 million to 3 million in 2025. Some 33 percent of the output is to be exported abroad.

The production of buses, minibuses, and trucks will increase from the current 11,000 to 120,000 by 2025. Some 25 percent of the output is to be exported.

The auto industry’s income is set to hit $50 billion by 2025. Its share of the GDP is set to reach 4 percent by then. Its share of the industrial sectors’ added value is to hit 16 percent.

The value of exported cars is to hit $15 billion, while the value of exported auto parts is set to reach $6 billion by the target year.

Also, Iran’s auto industry is set to create 13.3 percent of the country’s job opportunities by 2025. The figure is currently 10.3 percent.

In the environment sphere, the emission standard is set to improve from the current Euro 4 to the European Union’s standard of the day in 2025.

The average mileage of cars is planned to improve from 9 liters of gasoline per 100 km to 4.7 liters per 100 km by 2025.

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