Iran’s imports of cars, spare parts down 39%

May 12, 2015 - 0:0

TEHRAN- Iran imported over $59.375 million of cars and spare parts in the first month of the current Iranian calendar year (March 21-April 20), a 39 percent fall compared to the same month last year.

The country’s imports of cars and spare parts stood at $97.999 million in the first month of the past Iranian year, the Fars News Agency reported on Monday.

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. 

Western automakers prepare to re-enter Iran’s car market after the removal of international sanctions. Earlier, European car-makers voiced an interest to resume their activity in the Islamic Republic’s auto industry.