News ID: 280247
Published: 0317 GMT February 02, 2021

Iran’s car production expected to rise 50%: Minister

Iran’s car production expected to rise 50%: Minister

Iranian Industry, Mine, and Trade Minister Alireza Razm-Hosseini said that the country’s automobile production will increase by 50% in the second half of the current Iranian year (September 21, 2020-March 20, 2021) and the prices of cars will decrease.

Speaking at a meeting with members of the Parliament’s Industries and Mines Committee, the official said, “Immediately after I took office in the Industry Ministry, we started implementing a program to increase car production, and despite the problems that the country’s industries are facing, this program is well underway,” reported shatanews.ir.

“Recently, also a good financial package has been provided to support automakers in collaboration with the Central Bank of Iran (CBI),” Razm-Hosseini said.

He further noted that car prices are following a downward trend and the Industry Ministry’s policy is to make the car market competitive and eliminate intermediaries between producers and consumers.

Pointing to the 23% increase in the country’s car production in the first half of the current year (March 20-September 21, 2020), Razm Hosseini said hopefully by year’s end a growth of 50% will be achieved.

According to the data released by the Ministry of Industry, Mine, and Trade, car manufacturing in Iran rose 23.4% during the first six months of the current Iranian year compared to the same period in the preceding year.

Based on the released data, 468,699 vehicles were manufactured during the first six months of the current Iranian year.

Three major Iranian carmakers, namely, Iran Khodro Company (IKCO), SAIPA Group, and Pars Khodro, manufactured 863,263 vehicles during the past Iranian year (ended on March 19, 2020).


 

   
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