Iran imports 9,592 brand-new passenger cars in 4 months

2024-07-23 09:28:17

(MENAFN) In the first four months of the current Iranian calendar year (March 20 to July 21, 2024), Iran imported 9,592,000 brand-new passenger cars, as stated by the head of the Islamic Republic of Iran Customs Administration (IRICA), Mohammad Rezvanifar. The total value of these imported cars was reported at USD182.028 million, according to an Iranian news agency.

Rezvanifar highlighted that during the same period in the previous year, 439,000 passenger cars worth USD12 million were cleared and imported through Iran's customs offices. This significant increase in car imports follows the lifting of the ban on car imports in late May 2022 by the Iranian Ministry of Industry, Mining, and Trade. The decision to lift the ban aimed to address the imbalance between supply and demand in the domestic market and to improve the country’s economic conditions concerning foreign currency revenues.

Iranian automakers currently produce about one million cars annually, which falls short of the domestic demand of over 1.5 million cars. To bridge this gap, the government decided to allow car imports. In the previous calendar year ending March 19, Iranian automakers produced more than 1.13 million passenger cars, marking a six percent growth compared to the previous year's production.

Mehrdad Khosravi, director of the Automotive Industries Office of the Ministry of Industry, Mining, and Trade, reported that the production of pickup trucks also saw a substantial increase, with 166,000 vehicles produced, reflecting a 32 percent rise. Additionally, over 40,000 commercial vehicles, including various types of vans, minibuses, buses, trucks, and trailers, were manufactured this year, showing a two percent increase compared to last year's output in this sector.

This influx of imported vehicles and the steady growth in domestic production indicate a robust effort by Iran to meet the high domestic demand for automobiles and to stabilize the market by ensuring a sufficient supply of vehicles.

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