Economy, Domestic Economy

70,000 Cars Imported

70,000 Cars Imported70,000 Cars Imported

Since the beginning of the current year (March 21, 2014), 70 thousand cars have been imported, accounting for 10 percent of domestic production, Farhad Ehteshamzadeh, the head of Car Importers Union said, as IRIB news reported on Monday. Ehteshamzaded added that the amount is set to reach 100 thousand by year’s end, which would account for 8 percent of domestic production (1.3 million cars). Tariffs on the imported cars are determined based on their capacity of engine, he said. Legally-imported cars are required to meet specific quality standards and hence cannot be smuggled.