Iran Khodro Group Retains 39% Market Share
Asre Khodro - The total revenue of Iranian auto importers and producers during the first nine months of the current fiscal that ends in March was 391 trillion rials ($10.2 billion), according to a new report.
Sunday 22 January 2017 - 13:55:00
Reporting "Asre Khodro", On January 18, the local automotive website, Persian Khodro released a report on Iran’s auto production, imports, and sales.
The report indicates that Iran Khodro, the country’s oldest and largest car maker had a 39% share of the market during the nine month period.
The report said during the nine months to December the majority state-owned company produced 452,000 cars and generated 151 trillion rials ($4 billion).
IKCO was followed by arch-rival, SAIPA, another semi-state company, with 28% of the market share.
SAIPA produced 224,000 vehicles during the period with total sales and services reaching 108 trillion rials ($2.85 billion).
With total revenues of 86.7 trillion rials ($2.2 billion), car importers are in third place with a 22% share of the local auto market. The report also states that during the nine-month period 49,331 vehicles were imported into the country.
Private auto companies produced 69,000 cars and had 11% share of the market -- in fourth place overall.
The private firms that mainly assemble Chinese vehicles earned 44 trillion rials ($1.1 billion).
The news website quoted the spokesperson of Iran's Automotive Policymaking Council, Amir Hossein Qanati, as saying that Iran aims to produce 1.3 million vehicles by the end of the current fiscal.
At current rates of production the target does not seem too ambitious.
Iran's car industry was undermined by the international sanctions as both production and sales declined in big numbers during 2012-2014 when the restrictions were tightened.
In those years, the cheapest locally produced vehicles, including Peugeot Pars, Peugeot 405 and SAIPA Pride had the biggest share of new-car sales.
Iran automotive marketIran Automotive IndustryIran KhodroIKCOSaipa