Renault Imports 93,000 Units to Iran

Renault imported 93,798 fully built and CKD units to Iran during the first 11 months of 2016, Tasnim News Agency reported on December 18. The imports indicate a 146% year-on-year increase on vehicles imported to the Islamic Republic from last year’s figure of 38, 080 cars. Accordingly to the latest import data, the company shipped 13,413 units in November to the Iranian market. The increase in shipping to Iran comes as the French automaker and the Industrial Development and Renovation Organization of Iran (IDRO) signed in November to establish a new company to produce cars in Iran. As part of that deal, Renault hopes to produce 150,000 vehicles annually to gradually increase its market share in Iran’s huge auto manufacturing/assembling market. The manufacturing hub, believed to be Saveh’s Bonro site, will start production in 2018 and after machinery and equipment has been delivered to the country. It is expected that Renault will produce the Renault Kwid and Dacia Duster models at plant in Saveh, 100km southwest of Tehran. The joint venture will be launched with an initial investment of €400 million—Renault will provide 60% of the amount and 40% will come from IDRO.