Iran’s monthly cars, auto parts output drops by 20 percent
(MENAFN) Recent data from the Iranian Securities and Exchange Organization (SEO) indicates a notable decline in the production of companies within Iran's automotive industry. Specifically, there was a 20 percent decrease in production during the fourth Iranian calendar month of Tir, which ended on July 21, compared to the previous month. Additionally, the production of cars and auto parts dropped by 18 percent in this period when compared to the same month in the previous Iranian calendar year.
In June, Iran's former Minister of Industry, Mining, and Trade, Abbas Aliabadi, projected that the country would produce 1.5 million cars by the end of the current Iranian calendar year, which concludes on March 20, 2025. During his address at the 19th International Auto Parts Exhibition 2024, known as "IAPEX," Aliabadi also criticized the quality of domestically produced cars, emphasizing the need to enhance quality to remain competitive in the international market. He highlighted Iran's potential for industrialization and called for improvements in the sector.
The 19th International Exhibition of Automotive Parts, Accessories, and Sets commenced on June 18 and is scheduled to run until June 21, 2024. This exhibition serves as a significant platform for showcasing advancements and addressing challenges within the automotive sector.
In the previous Iranian calendar year, which ended on March 19, Iranian car manufacturers produced over 1.13 million passenger cars, reflecting a six percent increase compared to the previous year. Moreover, the production of pickup trucks rose by 32 percent during that period. Mehrdad Khosravi, the director of the Automotive Industries Office at the Ministry of Industry, Mining, and Trade, reported that over 40,000 commercial vehicles, including vans, minibuses, buses, trucks, and trailers, were produced last year, marking a two percent increase from the previous year's output in this sector.
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