Iran has imported some 25,448 passenger cars in the seven calendar months to October 31, marking a 12-fold year-on-year increase, according to a report by the country’s customs administration (IRICA).
The IRICA report, issued on Saturday, said that Iran had imported a total of 2,999 passenger cars during last year’s corresponding period.
It added that the hike in car imports happened following allocation of more foreign currency which aimed to meet the domestic needs.
Iranian automakers manufactured about 1.34 million vehicles over the past calendar year.
Last year, Reza Fatemi Amin, Iran’s then minister of industry, has said that the Iranian market needs an annual 1.5 million vehicles.
Iran eyes an unprecedented 1.7 million car output for this annual year (due to end on March 20, 2025).