Iran reports import of around 10,000 passenger cars in 4 months

(MENAFN) In the first four months of the current Iranian calendar year, spanning from March 20 to July 21, 2024, approximately 10,000 passenger cars were imported into Iran, according to an official from the Ministry of Industry, Mining, and Trade. Mehrdad Khosravi, the director of the Automotive Industries Office within the ministry, reported that the previous calendar year saw a slightly higher import figure of over 11,100 vehicles.

Khosravi also noted that there are currently 19,000 vehicles awaiting clearance at customs, while an additional 43,000 vehicles are either in free zones or in transit to Iran, bringing the total number of vehicles under import processes to 82,365.

In June, Mohammad Rezvanifar, head of the Islamic Republic of Iran Customs Administration (IRICA), indicated that more than 12,000 brand-new passenger cars were being imported into the country. He provided an update on the import situation, revealing that 4,015 passenger cars were cleared and entered Iranian customs during the first three months of the current calendar year. The total value of these imported vehicles was estimated at USD88 million.

The ban on car imports, which had been in place, was lifted in late May 2022 by the Iranian Industry, Mining, and Trade Ministry. This decision aimed to address the imbalance between supply and demand and to bolster the country's economic conditions concerning foreign currency revenues. Given that Iranian automakers produce around one million cars annually while domestic demand exceeds 1.5 million, the government allowed imports to mitigate the shortfall in supply.

In the previous calendar year, ending March 19, Iranian major car manufacturers produced over 1.13 million passenger cars, marking a six percent increase from the previous year’s production figures.

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