EghtesadOnline: Iranian automotive companies are in the red, owing parts makers 430 trillion rials ($1.72 billion), a member of Iran Auto Parts Makers Association said.

EghtesadOnline: Parts manufacturer SAPCO, affiliated to Iranian carmaker SAIPA, has signed agreements worth 4.2 trillion rials ($37 million) with Ferdowsi University of Mashhad and several industrial units based in Khorasan Razavi Province.

EghtesadOnline: Tehran Auto Dealers Association has been holding talks with authorities and carmakers offering proposals on market management so as to rein in the auto sector 's chaotic conditions and control the skyrocketing prices which have stunned the public.

EghtesadOnline: Iran's Defense Ministry has signed a deal with local car manufacturing company SAIPA to curb the auto sector 's reliance on foreign parts.

EghtesadOnline: A plan worked out by the administration of President Hassan Rouhani to mitigate the impact of US sanctions on Iran's economy is to provide the country's beleaguered auto sector with tax exemptions, reduced bureaucracy, and in the event of layoffs, the immediate payment of unemployment benefits.