Big Fall in Auto Exports

Auto and parts exports during the first 11 months of the current fiscal year (ends March 20) fell 36% compared to same period last year.  According to data released by the Islamic Republic of Iran Customs Administration, cars and spare parts with an approximate value of $113.6 million were exported during the period, the Persian-language Donya-e-Eqtesad reported.

The report said during the same period last year exported vehicles and spare parts earned $177.4 million.With the easing of international sanctions last year, local auto manufacturers forged new deals with international car makers like PSA Group, Volkswagen, and Renault.

The agreements are intended to also boost Iran’s auto exports since the foreign companies have committed to assist local firms in exporting the joint products through their international sales network.