Economy, Auto

Domestic Car Output Up 10%

Domestic Car Output Up 10% Domestic Car Output Up 10%

Iran’s auto manufacturers produced just shy of 450,000 vehicles in the first five months of the current Iranian year (started March 20), noting a 10% increase year-on-year, new statistics showed.

The total of 448,522 cars produced by Iran Khodro Group, SAIPA, Pars Khodro and a host of other smaller CKD manufacturers mark an uptick in production, which followed a modest return of market confidence.

The report, released by IRIB on September 21, noted that Iran’s car producers are witnessing a growing interest in new vehicle buyers, in part due to new finance options offered to buyers.

More recently, production in the Iranian month Mordad (started July 21) rose at Iran Khodro, SAIPA and Modiran Vehicle Manufacturing Company compared with the same period of the previous year.

IKCO produced 55,751 units and registered a 38.7% year-on-year increase while SAIPA had a 58.4% rise with 45,258 units. In the 30-day period, MVM produced 3,915 units, up by 70% from last year’s 2,303 units.