Car production planned to grow 23-fold by 2026

Iran plans to raise its car manufacturing capacity to 30 million units per annum by the end of Iranian calendar year 1404 (March 2026) from currently 1.3 million.

Car production planned to grow 23-fold by 2026

Of the mentioned figure some 30 percent is planned to be exported, Mehr quoted the head of the Industrial Development and Revolution Organization (IDRO) Mansour Moazami as saying on Tuesday.

Iran manufactured 1.3 million cars in the past [Iranian calendar] year (ended on March 20, 2017).

The figure is hoped to reach 1.6 million by the end of the current calendar year (March 20, 2018), according to the previous Industry Minister Mohammadreza Nematzadeh.

The share of Iran’s auto industry in the country’s gross domestic product (GDP) is projected to rise by 70 percent in this year.

The government seeks to improve the quality as well as the quantity of the domestically manufactured cars on the way to boost their exports, according to Deputy Minister of Industry, Mining and Trade Mohsen Salehinia.