M&M plans SUV foray into Iran

Asrekhodro- Mahindra & Mahindra (M&M) is poised to enter Iran with its XUV۵۰۰, KUV۱۰۰ and Scorpio pick-up, attempting to break the dominance of French and other European automakers in the market that has turned stricter in automobile safety and emission norms.

سه شنبه ۲۴ بهمن ۱۳۹۶ - ۱۰:۲۴:۰۰

M&M plans SUV foray into Iran

Reporting "Asrekhodro", The company has signed an agreement for collaboration with a local business group, which is expected to be materialised later this year. Mumbai headquartered M&M  already sells farm equipment, tractors and other products in the country.

When contacted, a M&M spokesperson said that the company has got into collaboration with Azim Khodro for imports and distribution of Mahindra vehicles in Iran. 

“Iran is a highly competitive market and requires vehicles to conform to latest European vehicle regulations.  Our products XUV500, KUV100 and the Mahindra Scorpio Pick-up were displayed at the Teheran Motor Show last November. These vehicles were well received and will be considered for the Iranian market, subject to further testing and validation, later in 2018,” the spokesperson said.

The recent developments are  not the only strategic step, M&M has taken to enter the highly lucrative Iranian market.

It is reported that in May last year Mahindra Group-owned Pininfarina had signed a £70 million deal with Iran Khodro to produce a new modular  platform which can accommodate at least four vehicles. Pininfarina is an  Italian designing and engineering firm. Pininfarina is reported to be involved in the entire process of getting the car to production, right  from concept design to the final product.

Company sources said that Iran recently upgraded its emission norms for automobiles, which are on par with those in European nations.

Further, the country warrants a high degree of indigenisation of the vehicles or else it attracts high custom import duties.

“It’s a very challenging market, but at the same time offers huge opportunity for growth” said a company executive.

After oil and gas, the Islamic Republic’s biggest sector is automotive industry as it contributes about 10% of GDP and gives employment to over 4% of the country’s population.

According to the industry analysts, there was huge growth in lran’s car manufacturing sector during 2000 to 2013, which fizzled out after imposition of fresh sanctions in 2013. However, the sector has seen some surge in recent years after the country signed a nuclear deal in 2015 with European companies including Renault, Peugeot, Citroen try to reestablish themselves in the market. The Chinese car makers, not to be left behind are pursuing the market aggressively.

The Iranian government reportedly presented certificates to around 40 foreign car manufacturers wanting to start business in the country. The Iranian car market is dominated by Iran Khodro and SAIPA, which are subsidiaries of the state-owned Industrial Development and Renovation Organization.

 

Source: dnaindia.com

برچسب ها

Iran automotive marketIran Automotive IndustryIndiaMahindra & Mahindra (M&M)
مطالب مرتبط بیشتر
Renault Lead the Way, Nissan Climb An End to Car Importing Suspension Complete privatization; First Iran Khodro and Saipa after that Construction of Chinese-Persian car in Semnan The Renault partnership in Russia changes the investment location in Iran France to update firms on doing business with Iran S. Africa-Iran Business Forum Next Week Iran, Turkey to Hold Meeting of Joint Economic Commission Next Month No Cherry-Picking, All Low-Quality Cars Have to Go French Businesses, Officials to Preempt American JCPOA Walkout Lack of Iran Khodro Capital Impedes Peugeot Plans Renault management confirms three new Renault Kwid family members Auto Parts Makers Demand Tougher Regulations on Imports Istanbul Automechanika Conference with the participation of the senior director of the exhibition Details of new rules for importing car to Iran European carmakers on the road back to Iran after nuclear deal Car from the new minister's perspective Renault has reached to the top market for imported cars in Iran Iran is the place for peugeot to jump the platform Iran Automakers Need Logistical Spread Iran Auto Output: All That Clamor for Naught What Future for Iran Car Market? France’s Peugeot, Total Looking for Stronger Presence in Iran French Leverage in Iran Auto Industry Iran Industrial Agency Kicks Starts Another Car Factory Iran Automotive Production Up ۲۰% y/y With Sanctions Behind, Iran Looks Ahead Iran Carmakers Obliged to Offer ۲-Year Guarantees Iran Auto Companies Not Raising Prices Over ۱۳ million cars in use in Iran Renault Imports to Iran Increase ۱۱۰% Iran to hit two car industry accords soon VW's Seat considers selling cars in Iran - CEO Turkey keen on investment in Iran's auto industry PSA to carry out Iran plans despite US threats Peugeot, Citroen Will Uphold Localization Segment in Iran Iran to Finalize Deal with Renault in Weeks: Minister Iran to release Euro V passenger cars next year Production surges in Iran's car industry Iran Khodro Group Retains ۳۹% Market Share Iran stars as Renault powers to record ۲۰۱۶ sales Iran to sign ۵ auto deals with intl. companies by Mar. ۲۰ Iran talks with Germany’s VW to produce passenger car Renault Duster May Be Obsolete VW to made CNG cars for Iran Car Import only through Investment Iran’s Vehicle Initial Quality Study Released Iran has potential to be top-۱۰ auto market by ۲۰۲۰ Renault Sales in Iran Up by ۱۲۷% in September Iranian, Turkish companies discuss auto parts Coop. The ۴th Vehicle Conference "Sales and After-sales Service Approach” Volkswagen and Skoda look into Iran market entry Iran Car Sales Slump Despite Loans Iran’s Auto Import Report by MSD Iran Targets ۸۰% Auto Localization Effects of Automotive Ties With China Renault Looks to Grow Automotive Presence in Iran Iran’s Car Market: Heading High or Low? Faurecia builds on Iran ties to secure major deals - CEO Renault signs MoU with Iran to create new joint venture Peugeot targets ۱۵۰,۰۰۰ vehicle sales in Iran in second half A positive political environment has helped Iran’s car market Peugeot to try for making Iran its manufacturing hub in Middle East, Africa Iran to ink new deals with foreign automakers Pakistan-Iran cooperation in auto sector discussed Germany’s Bavaria to dispatch trade delegation to Iran on Sept. ۴ Iran to open car factory in Azerbaijan Auto Sector Recovery to Buoy Steel Consumption No request to raise the automobile's price is sound New Automotive Decisions Announced Iran's Automotive Advantages Record Registrations for Groupe Renault in H۱ ۲۰۱۶ Friends with many benefits Encouraging foreign investment to revitalize Iran’s car industry - expert Iranian car output down ۲.۵% Y/Y Algeria-Iran: ۱۵ cooperation and agreements for automotive industry Automotive Targets Highlighted How to seize Iran’s automotive opportunities Renault’s Iranian market share rises ۷-fold in post-sanction era VW In Iran Iran ranked ۱۳th in world passenger cars sales of ۲۰۱۵ Bavaria eyes major auto supplier potential with Iran Rouhani vows to privatize Iran’s car industry Plans Devised to Make Iran Region’s Top Automaker: Minister Iran Seeks Foreign Partnerships to Boost Auto Industry Volvo on the Final Decision to Manufacture Car in Chabahar ۳rd Iran Automotive Industry Int'l Confab opens in Tehran Iran Inks ۳ MoUs with Foreign Carmakers Iran signs three deals with foreign automakers Iran to become a hub for automotive manufacturing: OICA President Iran, Germany Ink MoU to Boost Cooperation in Automotive Industry How Iranian Cars Are Viewed Around the Region Peugeot to Compensate for Iran’s Losses in New Contract: Minister Minister Calls for Japanese Automakers’ Investment in Iran Iran seeking Japanese investment in autos, water Iran in Talks with Germany, Italy to Boost Cooperation in Automotive Industry Three Europe carmakers to return to Iran soon Iran to become world's ۸th automotive manufacturer Iran suspends car loan programme on soaring demand VW and Skoda reportedly eyeing Iran as sanctions lift Japanese traders seek new opportunities in Iran Iran to export ۳۰% of domestically produced cars Peugeot and Renault in pole position to enter Iran’s car market French firms trail in economic rush to Iran - executive Iran interested in cooperating with German, Italian carmakers Nematzadeh defends automotive sector Changing Automotive Perception Iran Opening Up, The New Land Of Opportunity Picking winners in the race to Iran Italy to broaden cooperation on auto industry with Iran Iran: The next automotive hotspot in Middle East? Iran important market for European businesses: expert Iran's car market ready to zoom in on the action Japan explores opportunities in Iran's auto industry Thailand hopes for boost in trade with Iran after sanctions get lifted Azerbaijan not impressed by car opportunities of Iran Impact of Iran deal on the automotive market European car makers strives to regain share in Iran's auto market Iran automotive market ‘on edge to take off’
برگشت به بالا