Auto Parts Smuggling Hit $2b

A total of $2 billion worth of automotive spare parts and components are being smuggled into Iran annually, according to an estimate presented by the secretary of the Association of Homogeneous Propulsion Industries and Component Manufacturers.
Arash Mohebbinejad said the estimate is based on data furnished by Iran's Headquarters to Combat Smuggling of Goods and Foreign Exchange, IRNA reported.
A bulk of the auto spare parts and components pertain to luxury and expensive cars, which are smuggled along with low-quality and counterfeit parts, he added.
The official said the smuggling of low-quality parts leads to the outflow of foreign currency, poses risks to human lives and increases financial liability, as they are cheaper due to non-payment of customs duties and value-added tax.