News ID: 302588
Published: 0112 GMT April 28, 2021

Iran's monthly car output up nearly 118%

Iran's monthly car output up nearly 118%

Iran’s carmakers doubled output in the month to April 20 as manufacturers continue to scale up production to meet a growing demand in the domestic market.

The 117.8 percent surge was reported by IRNA citing figures released by three main Iranian carmakers on a stock market website.

Iran Khodro Company (IKCO) was responsible for over half of the car production in the first month this calendar year with an output of 33,189 units, up 115.3 percent against the similar moth last year, according to the report.

Second largest car manufacturer Saipa reported a nearly threefold increase in output as it produced a total of 21,394 cars over the same period. Saipa’s total production in the month to late April 2020 had reached 7,304.

Pars Khodro, Iran’s third largest carmaker which shares platforms and production lines with the two other manufacturers, rolled out 8,925 cars in the month to late April, up 38.6 percent year on year.

The Iranian Ministry of Industry reported a 19.1 percent surge in car output for the last Iranian year.

The ministry expects output would increase by over 21 percent this Iranian year to 1.2 million units.

Iran has seen a major boom in its homegrown automotive industry in recent years as major international brands have almost no presence in a market affected by US sanctions.

Experts say increased output has become possible thanks to growing investment in local manufacturing of auto parts that used to be imported from abroad.

   
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