Iranian carmaker capturing markets from Asia to Africa

EghtesadOnline: Iran Khodro Group, the Islamic Republic’s biggest automaker, is eyeing to reach out for foreign buyers from Asia to Africa, report says.

News ID: ۷۳۹۹۹۶

25 February 2017

Based on the Automotive Industry Development Document, Iran is expected to export one-third of cars manufactured in the country by 2025, according to a report released by the February issue of Ikco Vision, the publication produced by the International Relations Department of the auto manufacturing group.

According to ILNA, Iran Khodro products are going to be sold in 10 destination markets from Algeria to Turkmenistan.

With a relatively good economy, Algeria is going to see the establishment of an assembly line for IKCO cars.

Lebanon, on the other hand serves to be a virgin market for IKCO exports as there seems to be high demand for automated cars in the country.

The Republic of Azerbaijan, one of Iran’s neighbors to the north, is seen by the IKCO Group as a regional export base, and a joint investment is gradually opening the path for production of Iran Khodro cars in the country.

Syria is another market destination for IKCO products. Siamco, the Group’s biggest site abroad, is planning to produce 2,000 cars in the country next year.

Iraq, given the cultural and religious commonalities with Iran, is considered as one of IKCO’s main markets and Nigeria as the most populated African nation, on the other hand, remains to maintain a high potential for importing cars from the Iran Khodro Group.

The Ivory Coast comes next among the IKCO’s foreign buyers while the African nation is relying on the Iranian cars to renew its public transportation fleet.

Too, since the beginning of the last year, police cars produced by the Iranian automaker have been roaming cities in Turkmenistan.

Oman, on the Persian Gulf, while offering many advantages for producing IKCO cars, tends to a good export hub for the Iranian cars.

With Russia also on IKCO’s menu, the carmaker intends to reach out for the markets in the Commonwealth of Independent States (CIS) following securing footsteps in the Russian car market.