Iran’s auto production increased by 21pc to 360,599 units in the first five months (March-August) of the Iranian calendar as compared to 298,307 units in the same period year prior, as per media reports citing data by the Ministry of Industries, Mining and Trade.
During the same period, auto sales in Iran grew by 9pc to 286,363 units from the prior-year period.
Iran’s auto sales in the fifth month (August) stood at 110,471 units, up by 49pc from July.
The country’s auto output is expected to reach 1.2mn units by the end of the current Iranian fiscal (March 2021).
The country has been supporting domestic auto parts manufacturers since it has been facing issues in the supply of parts and equipment due to US sanctions.
In the last few months, Iran’s auto sector was affected by the ongoing Coronavirus pandemic, corruption scandals in major auto companies, along with sanctions by the United States.