IKCO Vehicle Production Slumps

Vehicle production at the Iran Khodro Company (IKCO), Iran’s largest auto manufacturing company, has fallen below 1,000 units a day.

Tasnim News Agency reports that as recently as last May the company was producing 2,400 units per day, but this fell to 910 units per day for the month ending 22nd October.

An unnamed official said the announcement of car loans worth 250 million rials ($7,240) was made too soon, causing customers have put off purchasing cars until after the loans are available.

(Source: Tasnim)

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