News ID: 314115
Published: 0159 GMT June 21, 2021

Iran reports 8.8% growth in car output in two months to late May

Iran reports 8.8% growth in car output in two months to late May

Iran’s Ministry of Industry said car output in the country increased in the two months to late May as domestic manufacturers continued to dominate a local market where major international brands have almost no presence.

Figures published by the ministry showed that total car output in the first two calendar months to May 21 had reached 128,700 units, up 8.8 percent against the similar period last year, Press TV reported.

Pickup truck production also surged by 12.9 percent over the same period to 9,477 units, while truck, small truck and truck cab output increased by 45.5 percent to 956 units, showed the figures.

Bus, minibus and van production by Iranian automotive companies declined 3.2 percent against April-May 2020 to 215 units, while tractor output reached 2,036 units, a decline of 23.3 percent year on year.

Production of combine harvesters was up by 6.9 percent to 62 units while tire output rose 1.3 percent against last year to a total of 40,200 metric tons.

Iran has seen a major growth in manufacturing activity in recent years as industries keep consolidating their share of the domestic market on the back of lower imports.

Domestic car makers have benefited from a 2018 decision by French companies to leave Iran to comply with US sanctions.

Iran’s annual car output rose by 19.1 percent in the year to March 20 against the previous year despite closures at production sites and disruptions to parts supply chains reported last year because of the spread of the coronavirus in Iran.

Central Bank of Iran figures published earlier this week showed that the country’s manufacturing and mining sector had expanded by 7.1 percent in the year to late March against a 2.3 per growth reported for the previous year.

   
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