Iran Automotive Industry on Damage Control Mode

Iranian carmakers are on an all-out mission to mitigate the possible damage that Trump’s underhand move to pull the US out of the Iran nuclear deal could have on the key sector
The Citroen C3The Citroen C3

Automakers are putting measures in place to mitigate the impact of the upcoming sanctions imposed by the truculent US President Donald Trump in the wake of his underhand move to pull the country out of the historic nuclear deal with Iran.
While the PSA Group begun to suspend its joint venture agreements with Iranian carmakers last week, the firm’s Citroen brand has announced the 2,000 presold small city hatchback C3s will be delivered to customers according to the arranged schedule without change.
The decision to go ahead with the delivery of the presold cars was announced through a blog post on the website dedicated to Citroen’s JV with SAIPA.
PSA Group made the announcement on June 4, saying it would suspend its JV activities in Iran if they could not obtain an exemption from the US sanctions.
Reportedly, South Korean automotive giant Hyundai is also facing headwinds in regard to its activities in Iran.


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