Iran has decided to extend a ban on car imports for two more years to give its own industry more time to gear up to face foreign competition, reports said.
Meanwhile, the managing director of a private sector vehicle manufacturing plant, Torab Mottaqi, announced Wednesday that a joint Iranian-British manufactured vehicle, produced this year by his company, was being exhibited at the Third Tehran International Automobile Fair which started on June 25.
Mottaqi was quoted by Iran’s official news agency (IRNA) as saying that “according to an agreement reached with a British enterprise, 500 vehicles will be available in the domestic market in the current Iranian year which ends in March 2002.
He also said that more than 50 percent of the spare parts were now produced locally.
"Production is expected to be increased to 5,000 vehicles per annum within the next four years and eventually the vehicle will go into mass production," the official said.
He further added that domestic production of spare parts used in the vehicle would gradually increase to 65-70 percent.
Iran's domestic car output is around 400,000 per annum, against estimated demand for 500,000 cars – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
