Iran’s auto industry has been in a state of tumult ever since the hawkish US President Donald Trump reneged on the historic 2015 nuclear deal, creating economic uncertainty in the country as baffled Iranians saw the dollar exchange rate and prices of many goods including vehicles hit unprecedented highs. Since then, Iranian authorities and carmakers have rushed in to mitigate the damage caused by Trump’s underhand move.
The move jeopardized local carmakers’ joint ventures with their French partners and prompted the government of President Hassan Rouhani to ban car imports indefinitely to save the dwindling foreign currency reserves from depletion.
To calm the waters, Industries Minister Mohammad Shariatmadari held a news conference on the occasion of National Mine and Industries Day on Saturday to address several issues on the mind of the public in regard with the key auto sector, ISNA reported.
The air was fraught with questions in the conference hall as the minister discussed the hot topics of the day one by one.
July 02, 2018 17:24
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Industry Ministry Launches Transparency Campaign
In recent weeks, Iran’s auto market has been in a volatile state with prices spiraling out of control. The key automotive sector has also been marred by several scandals triggering public outrage. In a recent press conference, the industries minister trie
On Monday, the Industries Ministry released the names of automotive firms which have received subsidized foreign currency to the Central Bank of Iran to be broadcast to the public later by the monetary regulator
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