TEHRAN, Iran, July 9. Iran's auto production is increasing, said Managing Director of the Automotive Industries in Ministry of Industries, Mine and Trade Abdollah Tavakoli Larijaani, Trend reports citing IRNA.
The country's auto production in first three months of the current Iranian year (started March 21,2022) was 208,000 vehicles indicating a 280-percent growth compared to the same time last Iranian year (started March 21,2021).
Larijaani pointed out that the target for auto production is 1.5 million vehicles by the end of the current Iranian year.
He went on to say that the gap between supply and demand could be filled with auto import and the Ministry of Industries, Mine and Trade drafted a regulation that is expected to be approved by the cabinet.
According to the official, the auto industry needs investment from eligible companies with production license.