Iran’s car imports fall by 68%
Baku, Azerbaijan, July 8
Iran’s car imports in the first quarter of the current fiscal year (March 20-June 21) registered a fall by 67.6 percent, compared to the same period of the preceding year.
Iran imported 7,043 passenger cars during the 3-month period, according to the country’s custom administration data.
The value of the imported cars amounted to $198.950 million in the period, which is 66.7 percent less year-on-year.
The data indicates that the Islamic Republic’s passenger car import in the last calendar month (May 21- June 21) was 4,032, worth $119.95 million.
Iran imported passenger cars from various countries including South Korea, the UAE, Oman, UK, Germany, Turkey, Taiwan, Armenia, China, Russia, Georgia and France.
Iran’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.
Last week Iran banned the import of cars as part of the government's efforts to control high prices and stop capital flight from the country.
This is while experts believe that the move by the government would further exacerbate the situation and increase the prices of all goods, including vehicles.