Tall Order for Carmakers

EghtesadOnline: Iran’s Ministry of Industries, Mining and Trade has said it expects local carmakers to boost exports tenfold during the current fiscal that started in March.

News ID: ۷۷۷۲۴۳

25 June 2017

The second edition of the ministry’s annual roadmap states that the auto industry’s total exports are expected to reach $2.2 billion by next March, ISNA reported. According to data released by Iran’s Trade Promotion Organization, affiliated to the ministry, in the last calendar  year the automotive industry hardly made $217.4 million from exports. Automakers exported vehicles worth $36.6 million to Iraq, Algeria, Lebanon, Kazakhstan Turkmenistan, and Syria, the main export destinations. During the 12-month period, the companies exported heavy duty vehicles —including trailer trucks and tractors — and earned $35.8 million. In the last fiscal, domestic automakers also exported auto parts worth $145 million. Almost 79% of the auto parts went to Iraq, Afghanistan, the UAE, Turkmenistan and Turkey, according to Financial Tribune.