Iran Car Imports Jump 49.6%

More than $2.3 billion worth of vehicles and auto parts were imported in the eleven months of the current fiscal that ends on March 20.

As has been the case for several years, China, Germany and the UAE topped the list of countries from which the vehicles entered Iran, YJC reported. The weight of the total imports was put at 219,000 tons.

According to the head of Iran's Auto Importer's Association, Farhad Ehteshamzad, a total of 61,077 units were imported in this period. A year-on-year comparison shows the figure shot up by 49.6%.   

The estimated value of the imported vehicles alone was reported at $1.6 billion. The figure increased by 62.4% compared to the same period of the year before.

With a 49.6% year-on-year increase, more than 61,000 cars imported in the said period were passenger vehicles.

In the month ending February 18, 5,755 units were imported up by 7% year-on-year.  

The official said the upward trend in imports will continue through the last month of the outgoing current fiscal. This is despite the fact that the government has banned independent car dealers from importing vehicles.

In December 2016, the government announced that only dealers that have official permits from the parent companies are legally allowed to import cars.

The impact of the ruling is expected to manifest itself in the coming months.