Economy, Auto

Audi Interested in Iranian Market

Audi Interested in Iranian MarketAudi Interested in Iranian Market

Benoit Tiers, Audi Volkswagen's regional chief, notes the challenges and opportunities in the Middle East and North Africa region, including Iran.  In a recent interview on Audi's plans, Tiers notes that now that sanctions have been officially removed, the company can start to consider the Iranian market.

Venture Magazine asked, "Will the anticipated end of [all] Iranian sanctions be the expected sales boon, or will low oil prices and continued conflict dampen such an effect?"

Tier's reply hits home where the company has been so far been hesitant to respond.

"It’s a bit early to say, but of course if a market the size of Iran is suddenly opening to foreign investment and to imports, there is potential for our brands," he said.

"It will take time and you don’t create a network overnight. Whenever sanctions will be officially lifted, we’ll be able to comment more."