Iran’s car industry growing despite global downturn

The head of Iran’s biggest automaker says the global economic downturn has had a reverse impact on the country’s car industry by further boosting auto sales.

IKCO CEO, Javad Najmeddin said the automaker has produced some 404 thousand units of different passenger cars since the beginning the current Iranian year (March 20, 2009) to Nov. 21, which shows a 15-percent increase in the factory’s production.

“Following the recent global recession, most industrial countries experienced a tough period, carmakers’ production faced reduction and some manufacturers found themselves on the brink of bankruptcy,” Najmeddin added.

“Every body expected a recession in Iran’s automotive sector in 2009, but through the efforts made by the country’s industrialists and the government’s support, Iranian car industry did not experience a recession and vice versa there was an increase in this field that brought about a new record in production,” he stated.

“Based on our plans, we will produce and market about 680 thousand units of different cars by the end of the year,” he said, noting that IKCO produced 352 thousand cars last year.