EghtesadOnline: While the Iranian automotive sector is facing various headwinds, authorities are moving ahead with plans to hold a new round of Tehran International Auto Show in November, when the annual event is customarily held.
According to the event’s director, Alireza Ajezi, the exhibition will be held from Nov. 13 to 17, local automotive website Asbe Bokhar reported.
Since auto imports have been banned and Iranian carmakers’ French partners have either left the country or downsized their presence in Iran, Chinese firms operating in the market are certain to dominate this round of the exhibition.
Since US President Donald Trump pulled the country out of the historic Iran nuclear deal and reimposed harsh sanctions against Tehran, the country’s automotive sector has been struggling to keep the factories’ wheels turning, with European partners shunning the lucrative market for fear of American punishments, Financial Tribune reported.
Furthermore, due to the US underhand move, the value of Iran’s rial has plummeted to unprecedented lows, goading the government toward the introduction of various measures to cap imports so as to preserve the country’s shrinking hard currency reserves from complete depletion. As part of these measures, the government of President Hassan Rouhani has banned car imports.
Cars used to be the second most imported goods into Iran before the introduction of the ban.
While the previous rounds of the Tehran International Auto Show were dominated by Iranian carmakers’ French partners, namely Peugeot, Citroen and Renault along with cars brought into the country by importers, due to the current situation in the market, it is expected of Chinese firms to claim the limelight and loom large during the upcoming show.
The newly-built Shahr Aftab (Sun City) exhibition center in south Tehran is to host the five-day event.