Iran's major car manufacturers produce 510,672 vehicles in 7 months

(MENAFN) Iran's major car manufacturers produced a total of 510,672 vehicles during the first seven months of the current Iranian calendar year, which spans from March 20 to October 21. This data, released by the Codal website, provides insight into the country's automotive production performance.

However, this output represents a 5 percent decline compared to the same period last year. Despite efforts to maintain production levels, Iranian carmakers have faced challenges that have impacted their ability to meet previous production targets.

The reduction in production comes amid ongoing economic challenges and supply chain disruptions, which have hindered many sectors, including the automotive industry. While car production remains a key component of Iran's industrial output, external factors like sanctions and inflation continue to influence the sector's performance.

As the year progresses, it remains to be seen how Iranian carmakers will adapt to these difficulties. Given the importance of the automotive industry to the country's economy, efforts to stimulate production and recover from the current decline will likely be a focus for policymakers and industry leaders in the coming months.

MENAFN10112024000045015839ID1108869261