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Iran: Saipa expects car production to be 31 percent higher this year

Deputy Managing Director of 'Saipa' automobile group said here Monday that the company will manufacture 345,000 vehicles in the current Iranian year (Started March 21), IRNA reported from Tehran.

Mohammad Heydari said that the figure is 31 percent higher than last year.

"The total sales is also estimated to increase by 27 percent this year," he said.

He said that the company is among the largest vehicle manufacturing companies with over 40 percent share of domestic market for cars and heavy vehicles.

The company has received all the pertinent certificates in the area of environment, quality and safety and has required the principal domestic parts manufacturers to comply with all the current European standards.

Saipa exported over dlrs 60 million of automobile and automobile spare-parts last year, equaling over 70 percent of total vehicle parts exports, he said.

Saipa with exports of over 20,000 Pride and Saipa 141 models to Syria, Egypt and Brazil in the last quarter has strengthened Iran's automobile industry position in the international markets.

The Saipa official added that the company's strategic plans call for implementing measures aiming at satisfying the domestic consumers needs in the first stage and boosting exports in the coming years.

He said that the company expects to garner rls 5,530 billion (about $700M) of profits this year due to its cost-cutting measures, rising exports and timely production schedule.

He further said that the estimated EPS -earnings per share- of the company is rls 1,057 (about 13 Cents) this year and in the first quarter of the year over 22 percent of the figure has been realized.

Managing Director of Saipa said here in July that car assembly and imports are detrimental to the domestic automobile sector.

Ahmad Ghalebani also said the policy will erode employment opportunities, lower value-added as well as providing a venue for ceding profits to the foreign companies.

Conversely, he added, relying on domestic experts and professionals and using joint platforms are Saipa's principal strategies for lowering imports and saving foreign exchange for the government coffers.

... Payvand News - 8/23/05 ... --

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