Economy, Auto

Car Imports Down 55%

Car Imports Down 55%Car Imports Down 55%

Iran’s Customs Administration has announced a 55-percent reduction in car imports during the first four months of the current Iranian year (started March 21). According to the latest statistics of Iran’s Customs Administration, 14,186 passenger vehicles worth over $337.9 million (€304.4 million) entered the country during the first quarter of the current Iranian year. This shows a dramatic drop compared with the same period of last year, which accounts for the import of 31,471 cars worth up to $642.8 million, the Persian daily Donya-e-Eqtesad wrote. During this period, the number and value of cars imported to the country have declined by 55 percent and 47 percent respectively year-on-year. Statistics by the International Organization of Motor Vehicle Manufacturers indicate that Iran’s auto production increased by 46.7% in the 12-month period in 2014.