Renault Sales in Iran Up by 127% in September

Renault Sales in Iran Up by 127% in September

TEHRAN (Tasnim) – French carmaker Renault announced that its sales of automobiles to Iran increased by 127 percent in September 2016.

Renault sales in Iran reached 12,500 vehicles in September, showing a 127 percent increase compared to the same month last year, the French company’ monthly sales data showed.

The automaker’s sales of vehicles in Iran from January to September reached 67,048, showing a 182 percent growth compared to the same period in 2015, according to the data.

Renault last month signed a memorandum of understanding (MoU) with the Industrial Development and Renovation Organization of Iran (IDRO) to establish sales and after-sales service centers in the Islamic Republic for the first time.

The agreement was inked in Paris on September 30 on the sidelines of the 2016 Paris Motor Show with Iranian Minister of Industry, Mines, and Trade Mohammad Reza Nematzadeh and senior officials of the French automaker, including CEO Carlos Ghosn, in attendance.

Iran’s automotive industry is the second largest in the country after its oil and gas industry, accounting for 10% of the country’s Gross Domestic Product (GDP).

The industry is expected to grow significantly after Iran and six world powers on July 14, 2015 reached a conclusion over the text of a comprehensive deal on Tehran’s nuclear program and started implementing the agreement on January 16.

The nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) terminated all nuclear-related sanctions imposed on Iran.

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