Tehran, Iran, July 1
By A. Shirazi - Trend:
Head of the Iranian Automobile and Spare Parts Importers Association Meysam Rezaei said Italian automaker Fiat is planning to return to Iran’s market.
Italian automaker Fiat is poised to resume vehicle sales in Iran and reclaim its share in its lucrative market in the framework of a cooperation agreement with a private Iranian automaker, Rezaei told Tasnim.
According to the terms of the deal, Fiat will grant its exclusive production and marketing rights to Artman Kish Motor Company, he added.
Artman Kish Motor Company announced recently that it had been established as the official representative of Italian automaker Fiat in Iran with permits to assemble its selected models.
Rezaei further said the two would cooperate to produce 16 models of Fiat in the country, taking into account Iran’s domestic standards.
Fiat will import knockdown (CKD) and completely build units (CBU) motor vehicles to Iran, he continued.
CBU would mean that the car is completely imported to Iran from the country of origin. CKD (Completely Knocked Down) would mean that certain parts of the car are shipped to the country of sale where they will be assembled to form a complete car.
Fiat, which controls Chrysler, and its subsidiary heavy-truck maker Fiat Industrial SpA halted sales to Iran in 2012 following similar moves by other car makers under US pressure to cut ties with Tehran.
In 2015, Fiat announced its readiness for cooperation with Iran.