Car sales in Iran have been growing fast in recent years, rising from 1.1 million passenger cars in 2015 to 1.6 million in 2017 – making it the 10th largest market in the world by sales. But while car sales continue to rise, the history of Iran’s automotive market has been seen to be a volatile one. Tough international sanctions have been imposed on Iran since 2012 and the breakdown in relations between the US and Iran since President Donald Trump came to office means the local car market could well be about to enter another downturn. According to Damien Duhamel, CEO and Managing Partner at Solidiance, French automotive players who once led the way in car sales may now lose to new domestic rivals and Chinese car firms – many of whom already have a presence in Iran – as they try and capture a larger share of the market.
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