Iran Auto Industry Runs Out of Steam After Strong Takeoff - Q1 2018
Asre Khodro :While during the first three months of the current fiscal, which started in March, Iran’s automotive output has observed a 9.4% yoy growth, yet in the final month of the quarter, the number of cars and commercial vehicles made in the country plummeted 19.
Wednesday 25 July 2018 - 09:19:00
Rporting "Asre Khodro",Business insiders have been wary that soon-to-be-effective sanctions against Tehran which are to target the country’s automotive sector can disrupt the formerly booming car making industry in Iran
During the first three months of the current fiscal which started on March 20, 336,699 cars and commercial vehicles rolled out of Iranian carmakers’ production lines indicating a 9.4% year-on-year increase, yet in the final month of the quarter (May 22 – June 21), the country’s automotive output declined by 19.6% compared to the same period of last year.
As is customary with the Ministry of Industries, the government body released its monthly report on domestic automotive production. While during the recent years Iran’s auto sector has been on a production spree the latest statistics paint a somewhat bleak prospect for the key industrial sector.
Business insiders have been wary that soon-to-be-effective US sanctions against Tehran, which are to target the country’s automotive sector, can disrupt the formerly booming car making industry in Iran.