Financial Tribune | Khosro Kalbasi: During to the first two months of the current Iranian year ending on May 21, with 226,584 cars and duty vehicles rolling out of factories, the key automotive sector recorded a 31.1% year-on-year growth.

According to data released by the Ministry of Industries, during the two months, Iranian companies made 214,325 cars, up 31.5% compared to the same period of the last year.

Production of pickup trucks and trucks respectively observed 24.6% and 22.7% YoY hikes reaching 9,613 and 2,107. Production of buses declined 15.2% compared to the same period of last year falling to 151 units.

Iranian makers have also pushed ahead with plans to boost van and minibus output rates with 152 and 236 units produced in each respective class— up 58.3% and 84.4% year-on-year.

The country has six carmakers which during the past few years have forged strong ties with foreign firms directly or through their subsidiaries and collectively manufacture 41 models.