French automaker Renault says it has resumed the export of auto parts to Iran and car production in Iran is expected to progressively pick up in the first half of 2014.
Reuters quoted The head of Renault’s Asia-Pacific operations, Gilles Normand saying: “The important thing is that we can gradually restart the supply of parts for vehicle production as well as the flow of payments.”
The report indicates that Iran’s domestic car industry peaked at 1.6 million cars in 2011, the year in which severe international sanctions were put in place against Iran.
Renault and Peugeot are looking forward to resuming their partnership with the Iranian companies Iran Khodro and Pars Khodro to get back the market share they enjoyed prior to the tightening of sanctions on Iran.
