Car imports rise amid domestic production fall in H1 calendar year
Iran imported approximately 25,000 vehicles worth $500 million in the first half of the Iranian calendar year (began on March 21), according to the latest data from the Islamic Republic of Iran Customs Administration (IRICA), marking a noticeable upward trend compared with the same period last year.
In the first five months of the year, about 19,586 vehicles valued at $432 million were imported, compared with 15,504 vehicles worth $317 million during the same period last year, Tasnim reported.
The country has a large home-grown car industry, which is capable of responding to a growing domestic demand for various vehicles.
Iranian automotive companies produced 1.335 million vehicles in the calendar year to March 2024, making the country the 16th largest car producer in the world.
However, the government has introduced laws in recent months to ease restrictions on imports in a bid to lower prices and to create more competition in the market.
IRNA on Sunday, citing data from the Codal system, reported that domestic production by Iran’s three largest automakers — Iran Khodro, Saipa, and Pars Khodro — fell 12 percent in the first half of the year, resulting in 56,122 fewer vehicles compared with the same period last year.
Data from the system shows that from March to September, the three companies produced a total of 404,461 vehicles, down from 460,763 units in the same period last year.