Iran Auto Market: IKCO Reports Higher Production

EghtesadOnline: The biggest auto group Iran Khodro has reported an increase in its market share by 1.2% year-on-year during the first month of the current fiscal (started March 20).

News ID: ۷۴۱۸۹۶

03 June 2017

According to a report by Financial Tribune’s sister newspaper, Donya-e-Eqtesad, IKCO says it has 48.9% share of the overall automotive market. Furthermore, its production has seen a 17% jump in the first Iranian month Farvardin.

The company reported growth in demand for several models including its Peugeot 206 and 405 models, Suzuki’s recently face-lifted Grand Vitara and two locally designed models Dena and Samand sedans.

IKCO is currently in a transformative stage of its development. It has signed deals with Italian firm Pininfarina and other foreign automotive firms to develop a new platform of cars that should be ready in the next two years, Financial Tribune reported.

It is also building relations with other car companies such as the French PSA Group’s Peugeot. The Tehran-based company is on the verge of offering a new DongFeng S30 sedan which will be targeted at fleet buyers like taxi companies.