EghtesadOnline: PSA Group’s sales in the Middle East and North Africa plunged 68.4% in the first half of 2019, punished by the automaker’s forced withdrawal from Iran under the threat of US sanctions.
EghtesadOnline: Automotive joint ventures between Iranian and subsidiaries of French automotive group PSA, Peugeot and Citroen, have announced that measures have been adopted so as to deliver the cars they earlier presold in Iran before they are forced to fully suspend their activities in the country due to the imminent reimposition of sanctions against Tehran by the hawkish US government.
EghtesadOnline: French carmakers, PSA Group and Renault, through talks with their Iranian counterparts and local and foreign authorities, are deliberating over ways to remain in Iran’s market in spite of looming US sanctions.
EghtesadOnline: While banking hurdles and a volatile forex market have hindered PSA Group’s operations in Iran, the French company’s executive vice president for Africa-Middle East says it is expanding its presence in the country and has signed agreements with 76 local parts makers.
EghtesadOnline: Paris-based PSA has yet to start production of the Peugeot 2008 in Iran despite the launch of an assembly line in the country seven months ago.
EghtesadOnline: Representatives from PSA Group’s Peugeot have toured several third-party auto parts companies in the northwestern city of Tabriz recently in a bid to incorporate additional local parts makers in their future plans.
EghtesadOnline: PSA Group’s announcement this week that they are looking to purchase the Opel/Vauxhall brands from General Motors is hardly surprising to many who know the European car market and its flagging sales pattern. But for the Iranian market, which still has limited exposure to European brands, it could mean an entirely new firm entering with force.
EghtesadOnline: Hot on the heels of the recent announcement by SAIPA group–Iran’s second largest car company–that it signed a new deal with PSA Group’s Citroen brand, a subsidiary of the Iranian company, Pars Khodro, announced it will unveil another vehicle made by Renault.
EghtesadOnline: Citroën is returning to Iranian market after Peugeot.