Vehicle production in Iran has declined by 12.2% in the first seven months of the Iranian fiscal year (ended October 22) compared with the same period of last year.
A total of 284,472 passenger and heavy-duty vehicles were produced during the period.
Statistics released by the Ministry of Industries, Mining and Trade show that during the seven months, vehicle production has declined at the country’s top two vehicle manufacturing companies, Iran Khodro Co. and SAIPA, by 14.4% and 13.4% respectively, Eghtesad News wrote.
The production of passenger cars declined by 5.1% during this period and reached 503,000 units. With a 2.5% decline, 273,000 units of the passenger cars were produced at IKCO.
The situation was far worse at SAIPA, as passenger car production declined by 11.5% with a total output of 180,000 units.
During the month ending October 22, vehicle production nearly halved compared with the same period of last year. Car production at IKCO and SAIPA declined by nearly 60% and 52.2% respectively, marking an overall 54.6% decline in car production.