Volkswagen plans to start selling cars in Iran

Almaty. July 5. Silkroadnews – For the first time in 17 years Volkswagen plans to start selling cars in Iran, the Qatar news portal “The Peninsula Qatar” reported.
“Volkswagen AG plans to sell cars in Iran for the first time in 17 years, taking advantage of easing sanctions. Volkswagen has signed a contract with local importer Mammut Khodro to offer Tiguan compact SUVs and the Passat family car, mainly at dealerships in the Tehran area. Expanding into emerging economies is part of VW’s strategy to reduce its reliance on its main markets and add new sources of revenue”, the report said.
Last year, as it is noted, PSA Group announced a contract to upgrade its Peugeot factory near Tehran and start building Citroen cars in Iran. A few months later, Renault SA announced that it would build an automobile plant with a production capacity of 150 thousand autos per year. According to Fitch Group forecasts, through 2021 Iran’s auto production is expected to grow 11%.