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US carmakers ready to invest in Iran market: Report

Source: Press TV

A classic American car in Tehran

Secretary-general of the Iranian Auto Parts Manufacturers Association says American carmakers have voiced their readiness to enter Iran's car market once sanctions against the country are lifted.

"American carmakers, have sent messages to their Iranian counterparts through the middlemen and have called for investment in Iran's auto market," Sasan Qorbani told ISNA.

He described Iran's car market "very attractive" for foreign automakers and said American companies have already started market research for entering Iran's market once the anti-Iran sanctions are removed in the wake of a final nuclear deal between Iran and P 5+1 group of countries.

The automobile industry is seen as Iran's biggest non-oil sector. It accounts for nearly 10 percent of the country's gross domestic product (GDP).

Latest data shows that Iran ranks 18th on the list of the world's top auto manufacturers.

The 2014 Production Statistics by the International Organization of Motor Vehicle Manufacturers (OICA) indicate Iran's auto production increased by 46.7 percent in the 12-month period.

The figures show Iranian automakers produced 1,090,846 cars and commercial vehicles last year, of which 925,975 were cars and 164,871 were vehicles.

Iran Khodro and Saipa companies account for more than 90 percent of the total domestic production in Iran.

Iran imported 102,000 cars during last Persian calendar year (ended March 20, 2015,) showing a 31% year-on-year increase.

... Payvand News - 04/21/15 ... --

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