Iran Vehicles Companies (2024 - 2029)

Iran Vehicles Market Companies Summary

The Iranian vehicle market is dominated by two domestic manufacturers that account for over 90% of the country's total vehicle production. The passenger car segment, in particular, holds the largest market share. Amid the COVID-19 pandemic, the vehicle market saw a decline due to disruptions in the supply chain and halted production. However, the industry is undergoing new reforms and is expected to remain profitable in the long term. The government has introduced strategic projects to foster rapid growth in the industry, with an emphasis on strengthening Original Equipment Manufacturers (OEMs) and auto part suppliers. This is part of an effort to maintain the structure of the automotive industry and achieve production targets. The government and OEMs are expected to play a pivotal role in driving the passenger car segment. The industry has also seen the re-establishment of cooperation with European firms, leading to significant growth. To encourage domestic production, the government is considering increasing import taxes. The industry is also becoming self-reliant and self-sufficient, with the potential to roll out electric vehicles.