Iran’s auto market witnesses 19% growth
Baku, Azerbaijan, April 1
By Gazenfer Hamidov – Trend:
Over 1.718 million of various new vehicles were sold at Iran’s market in 2017, according to the latest report of the International Organization of Motor Vehicle Manufacturers (OICA).
The figure which indicates a rise by 19 percent year-on-year, is the highest volume of sold vehicles in the country in recent years.
Iran was the 12th biggest car market in the world in 2017 with 7.1 percent share of global market.
Some 857,500 cars were sold in Iran in 2005, which gradually increased to 1.688 million of vehicles in 2011.
After that the number of sold cars started falling as a result of intensified international sanctions which hit the country’s auto sector.
The lowest number was registered in 2013, when 804,750 new vehicles were sold in Iran’s market.
The volume revived to 1.287 million in 2014 and surged to 1.448 million in 2016.
The OICA report indicates that more than 96.804 million new vehicles were sold in global markets in 2017 in comparison with 93.905 million in 2016 and 89.71 million in 2015.
China was the biggest car market of the world in 2017. Over 29.1 million various types of new vehicles were sold at Chinese market in the year, followed by the US (17.58 million), Japan (5.238 million), India (4.02 million), Germany (3.811 million), the UK (2.96 million) and France (2.6 million).
The OICA also said that the number of cars on Iran’s roads surpassed 14.13 million in 2015. The figure includes 12.7 million passenger cars and 1.43 million commercial vehicles.
The number of vehicles in use in Iran stood at 13.36 and 12.679 million in 2014 and 2013 respectively.
The motorization rate increased from 171 in 2014 to 179 vehicles per 1,000 inhabitants in 2015 in Iran, according to the OICA.
The average global motorization rate was 182 vehicles per 1,000 inhabitants in 2015.
The report says that 1.282 billion cars were in use in the world in 2015. The figure stood at 1.234 billion in 2014.
Iran's car output reached 1.515 million units in 2017, 18.2 percent more year-on-year, according to the OICA.
The Islamic Republic was the world's 16th biggest car manufacturer in 2017.