IKCO Releases Two-Month Sale Report

EghtesadOnline: Iran Khodro Company (IKCO), the country's biggest car manufacturer, has announced that in the past two months, it has sold over 50,000 cars.

News ID: ۷۴۸۸۰۱

26 October 2019

According to a statement published on the company's website, Ikco.ir, it produced around 52,000 vehicles in the two months ending Oct. 20.

"Since the beginning of the current Iranian year [March 2019], almost all the passenger cars produced by the firm have been sold," the statement said.

The company said no vehicles are stored in the firm's warehouses because of high market demand, Financial Tribune reported.

"Therefore, any market price rise for IKCO models definitely has reasons other than the sale process or storage," the firm claimed.

According to data published by Fars News Agency, Iranian companies produced 348,268 passenger vehicles in the six months to Sept. 22. And Iran Khodro’s output accounted for 159,497 units.

The report said the company's output plummeted 36.7% in the six-month period.

Industry players and local media believe that the company is on the verge of bankruptcy and need the government to help bail them out to preserve thousands of jobs at stake in the automotive firm.