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Local Carmakers Cannot Pay Their Bills

Local Carmakers Cannot Pay Their Bills Local Carmakers Cannot Pay Their Bills

Local carmakers Iran Khodro and SAIPA, are deep in the red owing part makers 230 trillion rials ($1.9 billion) one official with Tehran Chamber of Commerce says.
Mohammad Reza Najafimanesh tells local automotive website Asbe Bokhar, “Iranian carmakers owe parts manufacturers more than 230 trillion rials [$1.9 billion].”
The parts manufacturers are struggling to finance their operations. “At least part of the debt must be paid immediately.”
Local carmakers have incurred losses to the tune of 100 trillion rials ($833.2 million) in the first half of the current fiscal year (started March), secretary of Iran Vehicle Makers Association said.

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