Iran auto productions witnesses 73% growth

Iran’s automobile production has witnessed a sharp growth of over 73 percent in the first five months of the current Persian calendar year (started March 21).

During the period, Iranian automakers SAIPA, Iran Khodro, Pars Khodro and Modiran Khodro manufactured over 404,000 cars, marking a 73.4-percent growth compared with the same period last year.

Iran is the second manufacture of automobiles and automotive parts in the Middle East after Turkey and car industry is the second most active in the country after oil and gas.

Following the West’s sanctions against Iran over its nuclear energy program, the Iranian auto industry suffered a partial decline and major international automakers operating in Iran were forced to leave the country.

However, after the partial suspension of sanctions in the wake of Iran’s interim nuclear deal with the five permanent members of the UN Security Council – the United States, France, Britain, Russia and China – plus Germany in Geneva in November 2013, the industry witnessed a gradual growth and giant foreign auto manufacturers, including Peugeot and Renault, expressed keenness to return to the Iranian market.