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Iran Auto Industry Future Uncertain

Multifarious solutions have been proposed by authorities to minimize the negative impact of the US president’s open animosity and ‘economic war’, namely against Iran’s major industries
Auto Industry Future Uncertain Auto Industry Future Uncertain

Iran’s auto industry was in a hopeless and failing platform even before Donald Trump imposed tough new economic sanctions in 2018 after getting out of Iran’s historic nuclear agreement. 
As expected, the US penalties disrupted and gradually cut off the supply of raw materials and auto parts on a massive scale. Foreign carmakers and part suppliers walked away from the lucrative market fearing Washington’s ire.
Multifarious solutions have been proposed by authorities to minimize the negative impact of the US president’s open animosity and ‘economic war’, namely against Iran’s major industries. The proposals have produced nothing of essence, save for car prices going through the roof!
The Ministry of Industries is in charge of regulating the loss-making car making industry. Over the years (decades), the ministry’s thick ties with the undeserving sector and vested interests of some state actors has impeded efforts for real reform.
Corruption scandals running into the hundreds of millions of dollars have been exposed further tarnishing the auto sector’s public image. The scandals have made economic experts and informed observers wonder whether the paralyzed industry has a future.

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