TEHRAN, Feb. 25 (Mehr News Agency) - Exports of auto parts is expected to hit $350 million by the end of the current year (Iranian calendar year ends March 20, 2007).
Auto parts and components worth around $300 million were exported during the first 10 months of the current year, the spokesman for the Iranian Auto Part Manufacturers Association (IAPMA) announced adding that the figure shows a growth of about 40 percent compared with the same period, last year.
He put last year's exports of Iranian auto parts at around $300 million and said that Iranian part producers in the past year manufactured parts required for the production of 1,014,000 vehicles. Mohammad Reza Najafi-Manesh predicted that the figure is expected to hit 1,150,000 vehicles in the current year, which is indicative of an increase of about 10 percent compared with the same period, last year.
Commenting on the challenges facing the industry, he referred to the cash shortage as the main problem of the sector.
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