Economy, Business And Markets

Car Production Up 64%

Car Production Up 64%Car Production Up 64%

Iran’s automobile industry has registered 64.3 percent growth in a period of nine months, which ended December 21, the ministry of industry, mine and trade reported on Monday.

Car manufacturers in Iran have manufactured 825,389 various types of cars within the period, which indicates a 64.3 percent growth compared to the same period last year.

According to the report, more than 700,800 units were sedans, and 12,732 units were trucks. In addition, 362 buses, as well as 107 minibuses were manufactured over the period.

The ministry also reported that 104,729 vehicles were manufactured within the month that ended December 21, indicating an up to 35.9 percent increase compared with the same period last year.

More than 89,500 units were sedan, posting 36.4 percent increase, 555 units were pick-up, and other vehicles accounted for 660 units over the month.

  Iran Khodro Production Up

Daily car production at Iran Khodro – the country’s leading auto manufacturer – reached 2,400 units, while it is expected to meet the production schedule of 600,000 units by the year’s end (Iranian calender), if spare parts are supplied regularly, boursepress news agency reported on Monday.  

The report also noted that more than 439,000 vehicles comprising pickups and sedans were manufactured during the first nine months of the current Iranian calendar year, which ends March 2015.

The recent surge in production indicates 83 percent growth in comparison with the same period last year.

Iran’s automobile sector is witnessing a slow revival; however lifting of western sanctions is expected to create a boom in the industry.