Renault-Nissan Eyes Iran Cautiously
Economy, Auto

Renault-Nissan Eyes Iran Cautiously

The Renault-Nissan alliance is ready to expand its manufacturing footprint in Iran once sanctions are lifted, but will be “extremely careful” about the execution, CEO Carlos Ghosn said on Monday.
“Iran is a very promising market,” Ghosn said on the sidelines of the Detroit Auto Show, AFP reported.
“Today it’s more than one million cars, it has the potential to go to 1.5 or 2 million.”
The rate of car ownership in Iran is just 100 per 1,000 people—six times less than in Europe—and consumers have had limited access to new vehicles since economic sanctions imposed by Europe and the United States prompted some automakers to leave the country.
The historic accord reached in July over Tehran’s nuclear program opens the door to lifting sanctions.
US Secretary of State John Kerry said last week that the deal will be implemented in a matter of “days.”
“We’re ready to go, but we want to go in a way which is sustainable,” Ghosn told reporters.
“You don’t want to go too precipitously and create for ourselves a bigger problem than we need. So I think yes, lots of potential in Iran, but still the timing is going to need to be politically correct and completely clear from a legal point of view.”
An official with Pars Khodro told The Wall Street Journal in July that the Renault was negotiating a minority stake in the state-owned automaker.
The official also said Renault was in talks to buy facilities like the auto factories of Pars Khodro parent SAIPA.
Western sanctions on Iran over its nuclear program strangled the local production of Renault vehicles, which are assembled with imported parts.
Meanwhile, French rival PSA Peugeot Citroen, which left Iran in 2012 as a result of the sanctions, is involved in “intense discussions” with its former partner Iran Khodro over creating a new joint enterprise.
It signed an accord in October to distribute its luxury brand DS in Iran.


Short URL : http://goo.gl/yn8lyn
  1. http://goo.gl/yYBzei
  • http://goo.gl/Hi6osi
  • http://goo.gl/vSCaKP
  • http://goo.gl/IzPS9h
  • http://goo.gl/CbAhjp

You can also read ...

Automotive Giants Hit  by Massive Data Breach
Security researcher UpGuard Cyber Risk disclosed Friday that...
Travel Currency Policy Facing Revision
Confirming rumors of an imminent change in the Central Bank of...
Mindful of the risks inherent in starting a trade war with the US, the EU will probably not be able to provide Tehran with extensive support.
If it wants to keep the nuclear deal alive, the EU will need...
Iranian Parliament Firm on Preventing FATF Blacklisting
Majlis Economic Commission, a major force in Iran's Parliament...
Secondary Forex Market Rates to Soar
The supply of currency to the Secondary Forex Market will...
Command Economy Taking Biggest Toll on Stocks
Bulls at Tehran stock market are exhausted, as bears keep...
21% Rise in Non-Oil Trade With Afghanistan
Iran traded 1.58 million tons of non-oil commodities worth $...
No Reverting to Economic Policies of 1980s
One of the wonders in this day and age, in Iran, is the...