Iran greatly increases import of hybrid vehicles

Business Materials 28 July 2017 15:02

Baku, Azerbaijan, July 28

By Emil Ilgar – Trend:

Iran has increased hybrid vehicles import by more than 1855 percent during four months of the current fiscal year, started on March 21.

According to statistics, released by the country's Customs Administration, the worth of imported hybrid vehicles reached $79.49 million.

Iran also doubled the import of car parts to $196.164 million during the mentioned period year-on-year.

The country also increased car production this year. The Industry, Mine and Trade Minister Mohammad Reza Nematzadeh said on July 25 that Iran manufactured 420,000 cars during the first four months of current Iranian fiscal year, which indicate 20 percent growth.

He added that production of 1.6 million cars is expected for the current fiscal year, which started on March 21, the official website of the Industry, Mine and Trade Ministry reported.

Over 1.350 million cars were produced in Iran last fiscal year.

Iran plans to increase annual car production level to 3 million cars in the next five years.