Economy, Auto

Renault Reaffirms Iran Ambitions

Renault Reaffirms Iran AmbitionsRenault Reaffirms Iran Ambitions

Renault, the French multinational automobile manufacturer, said it plans to intensify operations in Iran. In 2015, two new vehicles were manufactured: Logan Pickup with Iran Khodro and Sandero with SAIPA, however sales have been sluggish due to lack of credit. These models are part of the latest additions to the lineup and has met with success among Iranians, Trade Arabia cited Renault's statement as saying. Renault plans to considerably increase operations in Iran and prepare future model releases in association with its two local partners, it added. Bernard Cambier, director for Africa-Middle East-India region, said that with a market amounting to two million vehicles by 2020, Iran has undeniable potential. “Renault has ambitious plans in Iran and advanced discussions are underway with SAIPA and Iran Khodro to step up our presence, develop our structures and support the automobile sector in Iran,” he said. In 2015, group sales in Iran soared by 56.1% compared to 2014, to reach 51,500 vehicles and 4.8% of the market share, the statement added.