Korean Cars Top Sellers

Korean Cars Top SellersKorean Cars Top Sellers

The Islamic Republic of Iran Customs Administration has released the latest statistics on the worth and number of cars imported into Iran in the first month of the current Iranian year (started March 20).

Statistics released on the website of IRICA show that the 1,802 units of cars with a total worth of $42.6 million were imported during the month.

South Korean and Japanese cars were the most in demand during that period with Hyundai, Toyota and Lexus being the top brands in the descending order.

Hyundai's two most popular models were Accent and Santa Fe, 309 and 207 units each were imported respectively. With a total of 158 units, Toyota's RAV4 was also in high demand during the month-long period.

In addition, 133 units of different models made by Lexus were imported during this period and those with hybrid engines being imported with a 4% import tax.

  Previous Year's Stats

In the previous Iranian year (ending March 19, 2016), Hyundai, Kia and Toyota were the top popular car brands in Iran, according to the deputy head of Iran's Automobile Importers Association at the time.  

According to Kourosh Morshed-Solouk, of all the car brands imported last year, Hyundai, Kia, Toyota and Renault each grabbed 36%, 20%, 16% and 7% share of the domestic market respectively, Eghtesad News reported on May 26.

Although the figures indicate the prevailing popularity of Korean brands among Iranian buyers, Morshed-Solouk said the shares of Hyundai and Kia have slightly declined compared with the past figures.

In December 2015, Farhad Ehteshamzad, the head of Iran’s Automobile Importers Association, said that during the first seven months of the last Iranian year, Hyundai, Kia and Toyota each held 40%, 17% and 16% of the market share.

  Hyundai Vehicle Imports May Drop

The import of Korean cars may radically drop in the coming year with Kia and Hyundai reportedly exporting their vehicles in complete knocked-down kits to be produced in Iran.

According to reports from the Hyundai Motor Group before the Iranian Norouz vacation (starting March 20), the automaker’s export resumption would begin in the next few months.

Before sanctions, Hyundai Motor Group had sold around 20,000 units to Iran in 2011. The automaker stopped the official export of cars and auto parts in 2012 due to the sanctions on the Islamic Republic.

However, in the intervening years, grey imports of their models have made their way into Iran from Azerbaijan, Kuwait, the UAE and Iraq.