EghtesadOnline: Iranian auto industries can reduce capital flight by $2 billion, if the government were to support their localization efforts, secretary of Iranian Auto Parts Manufacturers Association says.
EghtesadOnline: Iranian carmaker SAIPA needs to import auto parts worth €1,400 for making each unit of Pride, a €3,150 vehicle that the company has been manufacturing for the past three decades.
EghtesadOnline: Major Iranian auto parts manufacturers have recently signed a contract worth 12 trillion rials (over $100 million) with 32 local SMEs as part of a push to provide some relief to the country’s auto industries that have been hard-pressed by US sanctions.
EghtesadOnline: Major Iranian car companies are grappling with two main problems: lack of auto parts that have caused a sharp decline in production and a failure to clear the piling backlog of car orders they have presold months ago.
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: The 13th Iran International Auto Parts Exhibition opened on Monday in Tehran. Held at Tehran International Fairground, this year’s event brings together 191 foreign and 526 local automotive firms, IRNA reported.
EghtesadOnline: Given the turmoil surrounding the government forex policies which have hampered the import of raw materials, auto parts makers are struggling to keep production lines up and running amid a stream of economic setbacks.
EghtesadOnline: Imported auto parts have been languishing in customs warehouses as restrictive regulations have put the brakes on commodities getting clearance for entering the country, leading to a slide in Iran's automotive output.