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OVERVIEW OF THE IRANIAN AUTOMOTIVE MARKET

Market Size and Potential: The Iranian automotive market, despite economic challenges, maintains a persistent demand for cars due to consumers’ desire for personal mobility, improved living standards, and reliable transportation, indicating significant market potential.
Major Local Players: The Iranian automotive market is currently dominated by Iran Khodro and Saipa, but their recent struggles with quality control, outdated technology, and financial difficulties have resulted in a declining market share and decreased consumer trust.
Economic Challenges: Economic turbulence due to international sanctions has led to inflation, currency devaluation, and sourcing difficulties, impacting the affordability and prices of automobiles in Iran, and contributing to consumers’ reduced purchasing power.