Demand for Cars Surpass Supply in Strides in Iran

Demand for vehicles in the past four months has increased sixfold than the projected annual output of local car companies for the fiscal 2019-20, Iran’s industries minister says.
“Since the beginning of the current Iranian year [started March 21], there has been demand for 6 million vehicles in Iran’s auto market. This is six times higher than the local car companies’ projected output for the fiscal 2019-20,” Reza Rahmani was quoted as saying by Financial Tribune’s sister publication, Donya-e-Eqtesad.
Explaining the sharp surge in demand for vehicles over the past year, the minister said, “Recent upheavals in Iran’s economy have created false demand in the auto market.”