Iran’s car imports witness huge decrease

Business Materials 22 April 2018 13:06 (UTC +04:00)

Baku, Azerbaijan, April 22

By Gazenfer Hamidov – Trend:

Iran’s car imports in the first month of the current fiscal year (March 20-April 20) registered a huge fall by 73 percent compared to the same month of the preceding year.

Iran imported 1,034 passenger cars during the one-month period, according to the country’s custom administration data.

The value of the imported cars amounted to $23.651 million in the period, which is 77 percent less year-on-year.

Meanwhile the Islamic Republic’s average monthly car import stood at about 5,800 vehicles in the past fiscal year, ended March 2018.

Iran imported 70,075 passenger cars during the last fiscal year, 8.7 percent less compared to the preceding year.

The value of the imported cars amounted to $1.838 billion in the 12-month period, which is 8.4 percent less year-on-year.

Iran imported 70,075 passenger cars, worth $2.01 billion during the fiscal year to March 2017.

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