Iran Automotive Industry
Iran Automotive Industry
Iran Automobile industry industry plays an important role within the Iranian economy, with a turnover of approximately 12 billion USD and making up for 12% of the countries workforce. After sanctions were enforced in 2007 the automotive industry faced many challenges, however, with recent agreements between Iran and the P5+1 the Iranian automotive sector will remain a key driver of the economy.
Numerous paradigm shifts have already occurred and others are bound to follow:
Although the Iranian automotive industry has a clear strategic plan until 2025 with the aim of reaching a production of 3 million units, ILIA predicts that total production cannot exceed 2 million PV by 2025. Furthermore, ILIA anticipates that the industry will collaborate with German and French companies under joint venture agreements, and that the Chinese will continue pushing their products into the market.
ILIA is of the firm opinion that no matter the direction that the Iranian automotive industry will take, it is certain that the government will continue to directly and indirectly support this industry.
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juenemann@ilia-corporation.com