TEHRAN- Iranian carmakers manufactured 121,4000 vehicles during the first two months of the current Iranian calendar year (March 21-May 21), IRNA reported citing the data released by Industry, Mining and Trade Ministry.

The ministry’s data show that car manufacturing in Iran has fallen 41.9 percent in the tow-month period of this year from 208,800 cars manufactured in the same time span of the previous year.

Also as previously announced by the ministry, Iranian carmakers have manufactured 42,623 vehicles during the first Iranian calendar month of Farvardin (March 21-April 20), showing 47.2 percent drop from 80,794 cars manufactured in the same month of the previous year.

Last month, Industry, Mining and Trade Minister Reza Rahmani said that the policy of domestic manufacturing of auto parts should be seriously followed up.

The minister also stressed that in this due the capable manufacturers should be seriously supported.

Given that 1.25 million vehicles are anticipated to be manufactured in the country during the current Iranian calendar year (ends on March 19, 2020), the part manufacturers will need 150 trillion rials of working capital (about $3.571 billion) for the purchase of raw materials and other required items.

MA/MA