63303
Renault Iran Sales Up 161% in Q1
Renault Iran Sales Up 161% in Q1

Renault Iran Sales Up 161% in Q1

Renault Iran Sales Up 161% in Q1

French automaker Renault has registered a rather unprecedented increase in sales in Iran in the first quarter of 2017
Renault Group said sales in Iran rose by 161.5% in the first quarter of this year, selling 38,020 vehicles in the period, Renault PR told Financial Tribune.
The group now has hold over 9% of the Iranian market, up 4.9 points, thanks to the success of its new models being sold at low prices compared to several other brands competing in Tehran and all major cities. This is up 0.6% since the 2016 figures were released.
Renault, in a press release, reclaimed its position as a major player in the saturated market last year, with increasing imports of fully built vehicles and also through partnership deals with the Industrial Development and Renovation Organization. The Paris-based firm also benefitted from the production of its latest Sandero and Sandero Stepway models in conjunction with Iran Khodro Group, the biggest carmaker in the country.
Renault’s proposal for the local market includes imports of fully built vehicles for bigger spenders, including the latest models available in all big markets. These include the upgraded Koleos large SUV, large Talisman models and range of Megane models (dubbed Scalia) in Iran.
Meanwhile the company plans, as part of its joint venture with IDRO, to produce three new models for the domestic market by the end of 2017 or early 2018.
These include the low-cost Kwid crossover and new models of Symbol and Duster.
A prelude to Kwid sales in Iran is in the Indian market, where the car was originally released. In the first quarter of that market Kwid registered 27,000 sales up 9.9%
The joint venture is due to produce 150,000 cars per year.
It was previously reported that Saveh, a city in Markazi Province (southwest of Tehran), would be the production center for the joint project.
Renault used to sell 10,000 cars in Iran market every month till 2013 before the international sanctions were tightened in 2011 and 2012.

 Global Sales
Groupe Renault (including Lada) worldwide registrations increased by 15.8% in the global market y/y.The group’s share of the world market now stands at 3.8%, up 0.4 points on 2016.
The Renault and Dacia brands set new sales records for the first quarter. Renault Samsung Motors (South Korean Joint Venture) sales increased by 56.3% and those of Lada by 7%.
In Europe, the group’s share of the PC + LCV market increased 0.2 points to 10.1%. Sales grew 10% to 478,706 vehicles.
Renault’s own-brand continued to progress, with a 10.1% rise in registrations.
The market share for this brand reached 7.7%, up 0.1 points. Sales of ZOE electric car rose 57% and reinforced the group’s leadership with a 28% share of the electric vehicle market.

Short URL : https://goo.gl/xOrtHR
  1. https://goo.gl/DMLxy0
  • https://goo.gl/PGupX0
  • https://goo.gl/usveMz
  • https://goo.gl/WuhCbS
  • https://goo.gl/2UDNSz

You can also read ...

Oman Eyes Iran Market Amid Rising Imports
Ithraa, Oman’s inward investment and export promotion agency,...
Luxgen’s S3 is a 5-seater subcompact sedan equipped with a 1.6-liter, 116 hp gasoline engine.
Local company Arman Motor Kavir is set to unveil two imported...
Iran Exim Bank Tapping NDFI Resources
Export Development Bank of Iran–the country's exim bank–is to...
Iran Missing Advantages of Foreign Banks’ Presence
Tehran Chamber of Commerce, Industries, Mines and Agriculture...
Billet and bloom shipments made up the bulk of exports, reaching 1.78 million tons, up 28% year-on-year.
Iran’s semi-finished steel exports during the first seven...
Roadmaps for SSO Recovery
The research arm of the Iranian Parliament has conducted a...
With the increasing demand for EVs, almost all automotive giants in the world are investing heavily in R&D.
Iran should hasten to catch up with global automotive trends,...
About 1.23 million shares valued at $68.49 million changed hands at TSE on Nov. 22.
Tehran Stock Exchange’s main index gained 564.50 points or 0....

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus