Iran’s auto production in the eighth month Aban (Oct 22-Nov 20, 2020) of the Iranian calendar stood at 69,968 units, up by 1.3pc from the prior year due to a surge in auto production policies during the current fiscal, according to media reports citing data released by the Securities and Exchange Organization.
Of the total vehicle output in the eighth month, IKCO’s production increased by 5.7pc to 40,901 units, while SAIPA’s output declined by 1.3pc to 21,263 as compared to the preceding month.
Pars Khodro’s auto production during Aban stood 7,801 units, down by 11.5pc from the prior month.
In the first eight months (Mar 20-Nov 20, 2020) of the Iranian calendar, Iran’s vehicle output rose by 16.3pc to 566,844 units from the prior-year period.
Of the total Mar-Nov output, IKCO produced 291,234 units, up by 43.6pc from the prior-year period, while SAIPA produced 209,534, down by 19.2pc as compared to the same period year prior.
Pars Khodro’s vehicle production in the Mar-Nov period rose by 7pc to 66,076 units from the prior-year period.
COVID-19 Impact
As per media reports, mismanagement, the impact of US sanctions and the economic effects of the COVID-19 pandemic have hindered Iran’s automobile sector. The authorities have announced a slew of policies and measures to boost the industry apart from promoting localization of auto parts and technologies.
The country aims to increase production in the second half of the current year and produce 1.2mn mt by the end of it (March 2021).