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Iran's annual car output falls over 20%: Report

Source: Tehran Times

Car manufacturing in Iran dropped 20.2 percent in the past Iranian calendar year, which ended on March 20, ISNA reported on Monday, citing official statistics. Iran manufactured 737,060 cars in the last Iranian year, while the figure was 924,051 in its preceding year.

The number of cars manufactured in Iran in the last month of the past Iranian year was 79,444, showing a 5.1 percent fall compared to the figure of 83,720 in the same month of the year before.

Iran's roughly 2,000 auto parts manufacturers are growing thin, as hundreds of them became bankrupt or switched to other business areas when sanctions on Iran's trade were imposed by the U.S. and EU, according to a Financial Times report in March.

The report quoted Farhad Behnia, a member of the Iranian auto parts association, as saying, "The pressure that banks exert on parts makers is far bigger than the Tax Organization. Out of 860 members of the association, 20% have shut down their factories. Everywhere in the world, governments decrease bank rates to support producers."

... Payvand News - 04/22/14 ... --

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