EconomyIran

Iranian Automaker Seeking to Strengthen Presence in Global Market

Iran’s largest car manufacturer, Iran-Khodro Company (IKCO), aims to boost up annual production by 10 percent and domestic market share to 54 percent, the company’s vice-president said.

IKCO Vice-President for Quality and Product Development Mir Javad Soleimani mentioned brand development, new platform design and more active presence in global markets as the company’s perspective by 2014.

He said that more strategic focus on long-term cost management would raise the company’s annual profit by 17 percent.

The strategic plan of the company indicates that IKCO brand would make up 25 percent of the company’s products this year that would increase to 35 and 45 percent in the next two years, respectively. Therefore, Samand would be the main car in IKCO’s export portfolio.

Expanding global target markets is one of IKCO’s strategic plans. The company intends to export nine percent of its products this year. Iraq, Syria, Turkmenistan, Afghanistan and CIS countries are the main target markets for the biggest car manufacturer in the Middle East. Bulgaria, Switzerland, Turkey and Eastern Europe countries are the most important markets for IKCO products in Europe.

IKCO aims to boost its Competitive Capability in the western part of Europe by revising the portfolio and diversifying its exporting cars.

IKCO also aims to present its new platforms in B and D segments by 2014. About 12 cars are going to be built on these platforms.

Increasing mutual interaction with top global car manufacturers in a multi-brand basis and developing other brands products is another strategic plan of the company.

The company would present three new models and two models of the year per annum.

IKCO is going to allocate three percent of its annual profit to Research and Development. This shows the company’s firm will to enjoy the most recent technologies.

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