TEHRAN - The head of the Islamic Republic of Iran Customs Administration (IRICA) said 25,448 passenger cars were imported into the country in the first seven months of the current Iranian calendar year (March 20-October 21).

According to Mohammad Rezvanifar, the total value of the imported cars was $525.042 million, IRNA reported.

The number of passenger cars imported in the first seven months of last year was 2,999 units with a total value of $60.498 million, the official said.

Iranian Industry, Mining, and Trade lifted the ban on car imports in late May 2022.

The decision was made to reduce the imbalance between supply and demand and to improve the country’s economic conditions with regard to foreign currency revenues.

EF/MA