Iran’s automotive output fell by 22.4% during the seven months ending Oct. 22 compared to a year earlier.
According to data announced by the Persian economic daily Donya-e-Eqtesad, Iran produced 440,214 passenger cars during the period.
Previously, the Industries Ministry regularly published statistics about car production. However, following consecutive declines, the ministry stopped releasing such reports.
The current data are extracted from the financial statements submitted by automakers to the domestic stock exchange.
The report contains no details about the number of commercial vehicles produced.
Mismanagement and corruption, plus the sharp pressure of US sanctions, have derailed Iran’s auto industries. The semi-state car companies, SAIPA and Iran Khodro (IKCO), have struggled with numerous scandals over the past few months, including the arrest of several managers of the two companies.
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November 09, 2019 17:58
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Iran Auto Output Down 22%
The output of two major Iranian carmakers, Iran Khodro and SAIPA, has slid further. IKCO observed a 30% YOY decline in the seven months to Oct. 22 while SAIPA’s production rate dropped 4.4% compared to a year earlier
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