EghtesadOnline: French automotive companies PSA Group and Renault have linked declines in their first-quarter revenues to their forced withdrawal from Iran under threat of US sanctions.
EghtesadOnline: Pars Khodro, a subsidiary of Iranian car company SAIPA, reportedly presold 36,000 Renault cars which it now says it cannot deliver because the new US sanctions have disrupted the supply of parts.
EghtesadOnline: Nissan Motor Co. Chairman Carlos Ghosn has been arrested over suspected financial violations, the NHK reported, and the carmaker said it will seek a removal of the industry icon as its chairman after an investigation into his alleged misconduct.
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: French carmakers, PSA Group and Renault have held talks with Iranian officials during recent weeks to come up with “packages” to preserve their operations in the country.
EghtesadOnline: In the face of mounting pressure from the hawkish US President Donald Trump on international firms to ditch their Iran operations, Renault CEO Carlos Ghosn says the company is committed to maintaining its presence in the country.
EghtesadOnline: Carmaker SAIPA has ultimately transferred ownership of its Bonro production plant in Saveh, 100km southwest of Tehran, to Renault, head of the Industrial Development and Renovation Organization of Iran announced.
EghtesadOnline: Managing directors from French automotive companies PSA Group and Renault say Iran is seen as an appealing market by global carmakers. Renewing their companies’ commitment to major agreements with Iran carmakers, the two men emphasized that they are here to stay.
EghtesadOnline: The Fifth Iran Automotive Industry International Conference opened Tuesday at the iconic Milad Tower in north Tehran. Managing directors from French automotive companies PSA Group and Renault were in attendance, the IAIIC website reported.
EghtesadOnline: During the nine months to Dec. 21, Renault and Hyundai with 15,114 and 12,687 cars respectively claimed the biggest share of Iran’s imported car market.