EghtesadOnline: An estimated 10,000 containers of imported auto parts are stuck in Iranian customs warehouses ostensibly because local automotive companies Iran Khodro and SAIPA are unable or unwilling to get clearance for the goods.
EghtesadOnline: As car prices keep rising as never before, the two main Iranian auto companies, Iran Khodro and SAIPA, launched what they call are ‘special sales’, selling their cars like hotcakes.
EghtesadOnline: The government will lend money to two local auto companies, Iran Khodro and SAIPA, to the tune of 40 trillion rials ($333 million). The bailout is for paying part of the carmakers’ mounting debt to local parts makers.
EghtesadOnline: When it comes to higher-ups and top jobs SAIPA’s revolving door keeps on turning at unusual speed. On Sunday, Mohammad Reza Soroush was removed from his post as CEO barely after four months in the job and was replaced by Mirjavad Soleimani.
EghtesadOnline: Due to the new US sanctions and the economic headwinds, production of poor quality and outdated (but apparently affordable) vehicles like SAIPA’s Pride cannot be banned, head of Iran Standard and Quality Inspection Company (ISQI) says.
EghtesadOnline: The joint venture company between France’s Citroen and Iran’s SAIPA delivered the first Citroen C3s made in the central city of Kashan to customers earlier this week in Tehran.
EghtesadOnline: After carmaker Iran Khodro jacked up prices twice over the past few weeks, its archrival SAIPA apparently did not waste precious time! The second biggest carmaker raised the price of three models from 24 to 80% over the weekend.
EghtesadOnline: SAIPA-Citroen, a joint venture between Iran’s SAIPA and France’s Citroen says that it has enough spare parts to provide customers with adequate after-sales services.
EghtesadOnline: Iran Khodro and SAIPA are planning to expand their overseas operations. SAIPA is poised to increase production in Syria and IKCO has started manufacturing its Samand model in neighboring Azerbaijan.
EghtesadOnline: Hard-pressed auto manufacturing industry already under mounting pressure for its poor quality and high prices should prepare for a new challenge in the coming weeks. The state is due to raise the bar and announce a new set of automotive standards. Form what is known, most vehicles made by the two major car companies Iran Khodro and SAIPA will not be able to comply with the new norm.