Iran automotive industry reportIran’s car sector is the second most significant sector in country soon after the power sector accounting for more than 10 % of its GDP. After oil and gas, the automotive industry is Iran’s largest, accounting for about 10% of GDP and employing about four% of the labour force. There was a boom in nearby vehicle manufacturing between 2000 and 2013, driven by high import duties and a developing middle class. The imposition of fresh sanctions in July 2013 prevented Iranian companies from importing the car components upon which domestic vehicles rely, causing Iran to cede its location to Turkey as the region’s top vehicle manufacturer.
EghtesadOnline: During the initial three months of the existing fiscal which began on March 20, 336,699 vehicles and industrial autos rolled out of Iranian carmakers’ production lines indicating a 9.4% year-on-year boost, but in the final month of the quarter (Might 22 – June 21), the country’s automotive output declined by 19.six% compared to the identical period of last year.
The initial Ford Model T’s arrived in Iran in the 1930s and by 1955 annual imports had soared to around ten,000 units. Presently the domestic Iranian automotive sector is estimated to have a yearly nominal production capacity of two million automobiles. It employs far more than 1.five million men and women (directly and indirectly) generating up for 12% of the countries workforce.
Focus On Automotive Market In Iraniran automobile industry
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