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Iran’s top carmaker IKCO reports near-record sales

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Iran’s top carmaker IKCO reports near-record sales despite sanctions and pandemic woes.

Iran’s leading automotive company says it is reaching a record in annual output in the final days of the current calendar year.

The CEO of Iran Khodro Company (IKCO) said on Monday that sales were nearing a near-record high of more than 505,000 cars for the year to March 20.

Farshad Moghimi said that the figure is a surge of 35 percent against the year to late March 2020 and near highs seen more a decade ago in the company.  

Moghimi said production of heavy vehicles by the IKCO had also increased by 65 percent year on year in late March to reach a total of 3,700 units.

“The IKCO has not only reached its objectives but it has produced more cars than the annual target it had set,” he said.

IKCO and other Iranian car manufacturers have reported a stable growth in output this year amid declining car imports into Iran and a growing demand inside the country for various home-made car models.

That comes despite woes posed by the US sanctions on Iran as well as the spread of the coronavirus pandemic which forced long periods of closures in factories across the country earlier last year.

Moghimi said for a first time in IKCO history production lines will open in early days of national holidays of the New Year in Iran as the company seeks to finish cars preordered by customers.

He said the IKCO aims to reach a 25-percent increase in its annual output in the next calendar year, saying the target would be within reach as the company aims to scale up production for two new models it unveiled last year.

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