Economy, Auto
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Production Figures Plunge

Production Figures Plunge Production Figures Plunge

Production figures for four locally produced vehicles have plunged in the month ending July 22. Production of Renault's Sandero and Megane as well as two Chinese models JAC G5 and Lifan 620 came to a halt during the period, local automotive website Persian Khodro wrote. During the same period of last year, six Meganes, six Sanderos, seven JAC G5s and 745 Lifan 620s were produced. With none of the vehicles being produced in the said period, the production of these four cars was down 100%. Some speculate that a grassroots campaign "Don't Buy Local Vehicles", which is gaining momentum on social media could be the contributing cause behind the drop in vehicle sales. Campaigners believe that with the possibility of major international brands entering Iran's auto market in the near future, prices of locally produced vehicles are expected to drop drastically. As summer comes to an end, the automotive market remains stagnant whereas the season normally accounts for the majority of annual car sales. Most automotive officials did not pay heed at first, however since they are not inclined to reduce car prices, they have recently responded by criticizing the social media movement.   

 

Financialtribune.com