EghtesadOnline: Haima Motors China, which has been present in Iran for almost two years, is set to expand its presence in the market.
The automaker has announced plans to produce 13,000 vehicles in the country by March 2018, local automotive website Asbe Bokhar reported.
According to statistics released by the Ministry of Industries, some 6,000 units of Haima vehicles have been assembled in Iran during the first six months of the current fiscal (started March 21), indicating a 400% year-on-year increase.
The Chinese company entered Iran in 2015 with its SUV Haima S7 through a joint production and assembly deal with Iran Khodro. The model was priced at 950 million rials ($23,750) in Iran, $7,000 higher and above its international price tag, Financial Tribune reported.
Currently, the company is trying to lure more Iranian buyers with a small crossover Haima S5.
According to IKCO officials, the vehicle will be offered for 800 million rials ($20,000), $7,000 dearer than its price tag in the Chinese market.
The vehicle was unveiled during Mashhad Motor Show held in the northeastern shrine city in August.
The company launched online presales of the model in September and all units of the car were sold in the first few hours.
However, IKCO repeatedly was criticized by local media for starting presales of the small crossover without announcing the final price. The down payment for the car was 370 million rials ($9,600).
As per the law, Iranian automakers are required to fix the final price of their cars before starting sales or presales. According to the company’s website, the cars will be delivered by January 2018.
Haima S5 is a small Chinese derived crossover and comes with a 1.5-liter turbo engine, CVT automatic gearbox, and 161 hp. IKCO already produces three other Chinese models, namely a large SUV, Haima S7, and two Dongfeng models.
In addition to Peugeot and Renault models, Haima is certain to rival several cars assembled by domestic assemblers in Iran.
China’s BYD and Chery are present in Iran and offer a wide range of products.