Economy, Business And Markets

70% Growth in Car Production

70% Growth in Car Production70% Growth in Car Production

The production of light and heavy-duty vehicles during the first nine months of the current Iranian calendar year (started March 21, 2014) indicated a 70% increase compared with the similar period the year before, the deputy minister of industry, mine and trade told ILNA on Wednesday. Mohsen Salehinia said auto industry has been among the industries that contributed to this year’s 4% economic growth recently announced by the central bank. The official stated that auto manufacturing is considered as a driving force for other industries and, thus, has a direct impact on the economy. During the past Iranian year (ended March 20, 2014), a total of 624,749 cars were manufactured by Iranian carmakers.