EghtesadOnline: Hungarian bus manufacturer Ikarus and the Iranian City Industries and Mines Development Group (City IMD), affiliated to Shahr Bank (City Bank), have signed a memorandum of understanding to import buses.

EghtesadOnline: During a visit to Baku Economy Minister Masoud Karbasian and his Azeri counterpart Shahin Mustafayev discussed ways to expand collaboration in the auto industry, the local news website Eranico reported.

EghtesadOnline: Hungarian bus manufacturer Ikarus is set to re-enter Iran after years of absence.

EghtesadOnline: The local manufacturing of bus and van increased by 196.2% and 418% in the Iranian month of Mordad (July 23-August 22) compared with last year’s corresponding period.

EghtesadOnline: Latest data shows production of city buses is decreasing significantly as several production lines have stopped dead in their tracks.