Commercial Vehicle Market in Fiscal 2022-23 Surveyed

Iran’s commercial vehicle manufacturers could not utilize their full production capacity, while demand declined in the current fiscal year (ending March 20).
Statistics indicate that the Iranian market has 200,000 worn-out commercial vehicles and only a small number of customers intend to replace them with domestic vehicles.
“The domestic commercial vehicle market needs a large number of products, but the rising exchange rate and its adverse impact on domestic and imported products have caused customers to stop buying new vehicles,” Milad Khamoushian, an automotive expert, was quoted as saying by Donyaye Khodro.
“With the rise in foreign exchange rate, which has increased prices, the demand and sale of commercial vehicles have declined and the domestic market is experiencing a new recession.”