Economy, Business And Markets

77% Rise in Car Import

77% Rise  in Car Import 77% Rise  in Car Import

More than 64,000 cars were imported to Iran within the first 8 months of the current Iranian year (March 21-November 21), demonstrating a 77 percent hike, compared to the same period last year, IRNA reported. The import of 64,490 cars has been registered by the Customs Administration, worth almost $1.3 billion. The report also indicates that 6,680 cars, valued more than $147 million, were imported in the month of Aban (ended November 21), which indicates 17 and 14.56 percent growth in terms of volume and value, respectively, in comparison with the same period last year. The average value of each car imported within the 8-month period is close to 520 million rials ($19,320 based on official exchange rate). Some analysts estimate that car import may hit a new record high once sanctions are lifted at the end of ongoing talks between Iran and the P5+1.