Iranian vehicle production ended calendar year 2012 down 40% on the previous year, and registered a similar decline for the Iranian year ending March 20 2013. Although the latter months of the Iranian year showed signs of improvement with year-on-year (y-o-y) declines shrinking, BMI believes there are still too many risks to manufacturing – not least the shortage of capital and Western sanctions – to expect a full recovery in the current year. We forecast a further contraction of 5% for calendar year 2013. According to data from the International Organisation of Motor Vehicle Manufacturers (OICA), the industry produced 848,000 …
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