PSA seeks larger share from Iran with new Peugeot SUVs

Business Materials 29 January 2018 11:30 (UTC +04:00)

Baku, Azerbaijan, Jan. 29

By Khalid Kazimov – Trend:

Iran-France joint venture has produced more than 1,000 Peugeot 2008 SUV vehicles over the current fiscal year (starting March 20) and plans to produces 5,000 more over the two ending months of the year, an industry official said.

The CEO of Iran Khodro's Supplying Automotive Parts Company ( SAPCO), Hossein Najari, has said that the joint-venture has planned to produce 26,200 Peugeot 2008 vehicles in Iran over the next fiscal year, Iran Khodro official news website reported.

Iran Khodro launched the production line of Peugeot’s 2008 SUV model last March, marking the first new vehicle of a new partnership with the French carmaker.

Back in June 2016, the PSA Group which includes Peugeot and Citroen signed the final joint venture agreement with Iran Khodro to produce latest-generation vehicles in Iran.

This is while Peugeot’s French rival Renault saw a rise of 49 percent in the number of its sold cars in Iranian market over the last year.

Renault sold 162,079 units in Iran in 2017 compared to 108,536 cars sold in Iran’s market in Jan-Dec. 2016.

Peugeot which resumed Iran operations in 2016 after the lifting of international sanctions over Tehran’s nuclear activities sold 444,600 vehicles there last year.