Big Growth Expected in Iran’s Car Market

By John Lee.

Iranian car maker Iran Khodro (IKCO) expects Iran’s car production to hit 3 million units annually by 2025, of which 60 percent (1.8 million units) would be produced by IKCO, up from 24 percent in 2016.

Addressing Iran’s 5th Automotive Industry International Conference in Tehran on Tuesday, company CEO Hashem Yekehzare (pictured) said:

‏“In 2016 the overall sales of vehicles and auto parts in Iran stood at about 27 billion dollars. Today, we predict the figure to hit around $45 to 50 billions in dollars by 2025.”

He added that between 1996 and 2016, about 21.5 million units of commercial and passenger vehicles were sold in Iran, of which only 7 percent were imported.

(Source: IKCO)

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