Economy, Auto

Fresh Start for Auto Part Companies

Fresh Start for Auto Part CompaniesFresh Start for Auto Part Companies

The auto loans helped jumpstart the auto part manufacturing industry, said a member of Iran’s Auto Part Manufacturers Association. Last month, the auto part industry made a fresh start and the auto part companies began to accept several orders, Eghtesad News quoted Farhad Behnia as saying. To help Iran’s ailing auto industry recover, the government introduced a program in November that extended auto loans of up to 250 million rials ($7,300 at market exchange rate). The loans reportedly led to the sale of 110,000 cars within six days. On the benefits of the loan, Behnia added that carmakers have been able to pay back part of their debts to the auto part manufacturers and the industry is not as stagnant as before.