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EghtesadOnline: The CEO of industrial vehicle manufacturer Zamyad, has made known that the company’s light-duty commercial vehicles have a 35% share in the market.

Fereydoon Hamidi, says the company’s production rate saw a 23% year-on-year growth during the last fiscal (ended March 20), IranEconomist.com reported. The company is set to expand its production in the current year, he noted. “Zamyad is set to manufacture vehicles based on European production platforms and upgrade the quality of its output.” Zamyad, a subsidiary of SAIPA Group, unveiled three new Italian-derived IVECO light vehicles in February in a bid to boost market share. These have yet to begin production. The three models are Starlis 500, Starlis 540 and Eurocargo. It is the first time the models are produced in Iran. Currently, Zamyad sells a range of models, from vans to heavy-duty trucks in addition to pickup trucks, according to Financial Tribune.

Iran Auto Iran auto industry Zamyad