Iran’s Auto Sector: Moment of truth

Financial Tribune – Few auto market experts or analysts can tell you what really is going on in this huge but crisis-plagued and loss-making industry that gulps down millions of dollars in subsidies every year but continues to sink in red ink

Truth be told, most big companies, banks, state and government organizations are prone to corruption, mismanagement, larceny, fraud and waste.

But a time comes when some no-nonsense folks start looking beyond vested interests and ask where the line of responsibility and penalty must be drawn.

The sheer lack of accountability and travesty of justice in the business arena in Iran is no more conspicuous than in its dysfunctional car manufacturing industry.

When it comes to this local industry, the least that must be said is that it is broken. And mind you, this is not the type that can be taken care of soon in the economic interest of the common man. It is beyond repair.

Iran’s carmakers have long been a clear and present liability for the economy.