Tehran, March 1, IRNA – Iran Khodro Company (IKCO) Managing Director Hashem Yekkeh Zare announced Iran’s total sale of auto and spare parts in 2014 at $23 billion. Of this figure about $5 billion went to spare parts.
Speaking at the 3rd Automotive Industry International Conference, he predicted that the total sale of auto and spare parts up to 2025 will reach 45 to 50 billion dollars.
He said in the developing countries where the rate of population growth is high due to economic progress and increase in GNP people’s power for purchasing automobiles has increased and investments have been inclined towards such countries in a logical trend.
Yekkeh Zare predicted that in 2025 the need of the regional auto market will reach 6.7 million of which 2.3 million will be absorbed by the Iranian market.
He cited the following key advantages of making investment in Iran in comparison with other regional countries: Direct land and marine access to 15 regional countries, enjoying high stability and security, expert and cheap manpower, appropriate spare manufacturing network with the potential of manufacturing one thousand standard pieces.
He said these advantages show that Iran is capable of being turned into a hub for manufacturing spare parts and exporting vehicles in the region.
The official noted that IKCO with the manufacture of about 600 thousand vehicles in 2014 promoted its rank from 32 to 25 among the world’s top auto manufacturers.