Car manufacturing in Iran witnessed 4.7 percent of growth during the eight months to November 21, compared to corresponding figure of preceding year.
According to the data released by the Industry, Mine, and Trade Ministry, Iranian carmakers manufactured 651,408 vehicles in the eight-month period, while the figure was 622,144 in the same time span of the previous year, IRNA reported.
During the said eight months, IKCO manufactured 319,710 vehicles, which was 0.1 percent less than the output in the same time span of the previous year.
SAIPA manufactured 283,593 vehicles in the mentioned period. Production by this automaker rose 6.2 percent in comparison to the previous year’s same time span.
Iranian automakers manufactured 900,714 vehicles in the previous Iranian year (ended on March 20), which was 4.3 percent more than the figure of its preceding year.
The Iranian Ministry of Industry reported a 19.1 percent surge in car output for the last Iranian year.
The ministry expects output would increase by over 21 percent this Iranian year to 1.2 million units.
Iran has seen a major boom in its homegrown automotive industry in recent years as major international brands have almost no presence in a market affected by US sanctions.
Experts say the increased output has become possible thanks to growing investment in local manufacturing of auto parts that used to be imported.