Citroen Eyes 30% Share of Iran's Market

Chief executives of PSA Group’s Citroen and SAIPA held a joint press conference at the weekend during which the French director said that Citroen is aiming to claim a 30% share of Iran’s auto market by 2021.

According to a local news website, Persian Khodro, Linda Jackson, CEO of Citroen and a delegation from the French automotive giant visited one of SAIPA’s plants.

During the press briefing, Jackson said Citroen is aiming to produce a range of models through its joint venture with SAIPA. “Citroen and SAIPA are set to offer products suitable for the low budget basket,” Jackson said.

CEO of SAIPA Mahdi Jamali said, “SAIPA and Citroen intend to export cars produced through the joint venture to Iraq, Syria, Algeria and Lebanon.”

According to earlier announcements by SAIPA, the company is due to sell a 50% stake in of one of its subsidiaries, SAIPA Kashan, to PSA. Jamali said “SAIPA Kashan is one of the most advanced production sites of the company.” Kashan is a historical city in Isfahan Province.