Bourse and Bazaar | Hassan Karimi Sanjari: Iran produced just 770,000 automobiles in 2019, down from 1,418,550 just two years prior. The re-imposition of U.S. secondary sanctions interrupted new investment in Irans automotive sector, particularly by European automakers such as Renault, Peugeot, and Volkswagen. The median age in Iran is just 32....

Financial Tribune - Irans major automaker SAIPA is strengthening cooperation with the University of Science and Technology to upgrade its products with the state-of-the-art technology. During a Saturday visit to the production lines of SAIPA, the companys CEO Javad Soleimani and Mohammad Hossein Shojaeifard, the dean of the universitys research ...

Tasnim The commander of the Islamic Revolution Guards Corps Aerospace Force said the force can provide Iranian automakers with advanced technologies so that they can overcome their shortcomings and reduce their reliance on foreign firms. In comments during a visit to Iran University of Science and Technology on Monday, Brigadier General Amir Ali ...

Financial Tribune - In line with efforts to deepen the localization of auto parts production, 175 projects have been launched by Irans major carmaker Iran Khodro (IKCO), the companys CEO said. Farshad Moqimi said the projects are expected to slash demand for auto parts imports and curb capital flight by 246 million, the automakers website Ikcopress....

Financial Tribune - Amid the COVID-19 crisis, Irans automotive industry will only survive if the government once again places it on life support, the head of Iran Auto Parts Makers Association says Iranian automakers will miss output goals they had set for the current fiscal year (started March 20), amid the coronavirus pandemic and US sanctions,...

Financial Tribune - Few auto market experts or analysts can tell you what really is going on in this huge but crisis-plagued and loss-making industry that gulps down millions of dollars in subsidies every year but continues to sink in red ink Truth be told, most big companies, banks, state and government organizations are prone to corruption, mismanagement,...

Financial Tribune - Irans automotive output increased by 4% during the 10 months ending Feb. 19 compared to a year earlier. According to data published by the Persian economic daily Donya-e-Eqtesad, Iran produced 786,347 passenger vehicles of different models during the period, which is 29,478 more than the year-ago months. No data have been ...

Tasnim | Hamed Malekpour: President Hassan Rouhani on Wednesday unveiled four Iranian domestically-manufactured cars that are ready to join the market. According to the Iranian president's website, President Rouhani unveiled the cars after the cabinet meeting on Wednesday. He unveiled Dena+ Turbo automatic, Crossover (Maga Paltform) and K132. Over ...

MNA Iranian President Hassan Rouhani unveiled four new and optimized domestic cars that are ready to be put on the market on Wednesday. During the ceremony that was held on Wednesday after the session of the cabinet, Iranian President Hassan Rouhani was also briefed by the Minister of Industry, Mines and Trade about the specifications. Dena+ ...

Press TV - The Iran Khodro Compnay (IKCO), the largest carmaker in Iran, has unveiled a first electric car that could reach mass production in two years time. A report by the IRNA agency on Tuesday said that the Electric RANA, a sedan which bears the name of one of the recent models of IKCO, is equipped with a special engine that is designed by ...

Financial Tribune - Pars Khodro, a subsidiary of SAIPA car company, has restarted producing Renault cars, the company said in a statement. Last March Pars Khodro stopped producing Renault vehicles because the new US sanctions had disrupted supply of parts. Following the imposition of tough US penalties against Tehran, all European automakers ...

MNA Secretary of Iranian Auto Parts Makers Association Maziar Beyglou expressed hope that self-reliance in the manufacturing of auto parts would reach 90 percent through domestic production of required raw materials. Iran has achieved 80 percent self-sufficiency in manufacturing of auto parts, said Beyglou on Saturday. Domestic parts manufacturers ...

Financial Tribune - Despite the Iranian governments promise to halt the production of substandard cars in a few months, recent moves indicate local carmakers are moving in the opposite direction. There had been a protracted debate in Iran over phasing out the production of poor quality cars like SAIPAs Pride and Iran Khodros Peugeot 405. And in ...

Financial Tribune - Iran Khodro Company (IKCO), the country's biggest car manufacturer, has announced that in the past two months, it has sold over 50,000 cars. According to a statement published on the company's website, Ikco.ir, it produced around 52,000 vehicles in the two months ending Oct. 20. "Since the beginning of the current Iranian ...

Press TV - Iranian authorities say that Pride, a car model that has dominated the countrys market for more than two decades, will be dumped in early summer 2020 as reports emerge of a recession that has affected sales in the wider industry. The officialIRNA agency said in a Wednesday report that production by major Iranian car-makers had decreased ...

Financial Tribune - In a rare weekend attack on the unbelieving poor performance of automakers, governor of the Central Bank of Iran Abdolnasser Hemmati censured what he described as the indolent auto sector that long has taken undeserving state support for granted. Despite the deep compulsions to work for verifiable efficiency in key economic sectors ...

Financial Tribune - Irans automotive output declined by 34.8% during the first half of the fiscal 2018-19 compared to a year earlier. According to data published by Fars News Agency in the six months to Sept. 22, Iran produced 377,517 cars and commercial vehicles, indicating a 34.8% decline on year. During the period, 348,268 passenger vehicles ...

Financial Tribune - Irans SAIPA and South African car manufacturer Mureza are to jointly produce vehicles in Zimbabwe. The first vehicle to be assembled at the Zimbabwe plant is SAIPA Quick, which will be rebranded as Prim8 (pronounced Primate), IRNA reported. Quick is a crossover introduced by SAIPA in 2017. It comes with a 1.5-liter gasoline ...

Financial Tribune - To curb the Iranian auto industries reliance on imports, car manufacturers have forged several deals with local tech firms worth $162 million for the production of auto parts Over the past week, Tehran hosted an event to connect tech firms with automakers, on the sidelines of which several deals totally worth $162 million were ...

MNA Statistics show that Irans second-largest car manufacturing company SAIPA manufactured 147,588 vehicles in the first five months of the current year (March 21 August 21). According to reports, SAIPA Car Manufacturing Company produced 75,525 Pride passenger cars, 593 Tiba passenger cars, accounted for the maximum production share of car production ...