Iran automotive industry reportIran’s car sector is the second most significant sector in country soon after the power sector accounting for more than 10 % of its GDP. After oil and gas, the automotive industry is Iran’s largest, accounting for about 10% of GDP and employing about four% of the labour force. There was a boom in nearby vehicle manufacturing between 2000 and 2013, driven by high import duties and a developing middle class. The imposition of fresh sanctions in July 2013 prevented Iranian companies from importing the car components upon which domestic vehicles rely, causing Iran to cede its location to Turkey as the region’s top vehicle manufacturer.

EghtesadOnline: During the initial three months of the existing fiscal which began on March 20, 336,699 vehicles and industrial autos rolled out of Iranian carmakers’ production lines indicating a 9.4% year-on-year boost, but in the final month of the quarter (Might … READ MORE ...