TEHRAN – The latest data released by the Iranian Securities and Exchange Organization (SEO) shows that the production of companies active in the auto industry has declined 20 percent in the fourth Iranian calendar month Tir (ended on July 21) compared to the previous month.

Based on the mentioned data, the production of cars and auto parts has also decreased by 18 percent in the mentioned months as compared to the same month in the previous Iranian calendar year, Tasnim News Agency reported.

Earlier in June, Iran’s former minister of Industry, Mining, and Trade said 1.5 million cars will be produced in the country by the end of the current Iranian calendar year (March 20, 2025).

More than 1.5 million cars will be manufactured in the country by the end of the current Iranian calendar year, Abbas Aliabadi said, speaking at the 19th International Auto Parts Exhibition 2024 dubbed “IAPEX”.

The industry minister criticized the poor quality of cars produced in the country and called for boosting the quality of the cars to be competitive in the international arena, Mehr news agency reported.

He also stated that Iran should be industrialized and the country has a high potential for becoming industrialized.

The 19th International Exhibition of Automotive Parts, Accessories, and Sets kicked off on June 18 and will run through June 21, 2024.

Iranian carmakers produced more than 1.13 million passenger cars in the previous Iranian calendar year (ended on March 19), showing a six percent growth compared to the figure for a year earlier.

Mehrdad Khosravi, director of the Automotive Industries Office of the Ministry of Industry, Mining, and Trade, told IRNA in late March that the production of pickup trucks also increased by 32 percent in the previous year.

Over 40,000 commercial vehicles, including different kinds of vans, minibuses, buses, trucks, and trailers, were manufactured last year, which was about two percent more than the preceding year's output in this sector, he added.

EF/MA