US car manufacturers eye Iran market: Official
US car manufacturers are waiting for the lifting of sanctions on Iran in order to win a toehold in the Islamic Republic’s burgeoning market, a senior official says.
“The Americans have expressed willingness for presence and investment in Iran’s market and they are waiting for the Lausanne statement to become an agreement,” Mohammad Reza Najafi-Manesh, member of Iran’s Car Manufacturing Policymaking Council, said.
He was referring to a recent outline accord signed between Iran and six world powers in the Swiss city of Lausanne about Tehran’s nuclear program.
“Talks have already been held [US automakers' presence in Iran], but details should be announced at a more appropriate time,” said Najafi-Manesh.
The automobile industry is seen as Iran’s biggest non-oil sector. It accounts for nearly 10 percent of the country’s gross domestic product (GDP).
Latest data shows that Iran ranks 18th on the list of the world’s top auto manufacturers.
The 2014 Production Statistics by the International Organization of Motor Vehicle Manufacturers (OICA) indicate Iran’s auto production increased by 46.7 percent in the 12-month period.
The figures show Iranian automakers produced 1,090,846 cars and commercial vehicles last year, of which 925,975 were cars and 164,871 were vehicles.
Iran Khodro and Saipa companies account for more than 90 percent of the total Iran imported 102,000 cars during last Persian calendar year (ended March 20, 2015,) showing a 31% year-on-year increase.
Iran and the five permanent members of the United Nations Security Council – the US, Britain, France, Russia and China -- plus Germany along with officials from the European Union reached a mutual understanding on Tehran’s nuclear program on April 2 after eight days of marathon talks in the Swiss city of Lausanne. The two sides will now work on drawing up a final accord by the June 30 deadline.
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