Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,303.10 +8.60 0.06%
S&P 500 1,649.60 -0.91 -0.06%
Nasdaq 3,459.14 -0.27 -0.01%
Ticker Volume Price Price Delta
STOXX 50 2,764.29 -12.49 -0.45%
FTSE 100 6,654.34 -42.45 -0.63%
DAX 8,305.32 -46.66 -0.56%
Ticker Volume Price Price Delta
Nikkei 14,612.50 +128.47 0.89%
Hang Seng 22,618.70 -51.01 -0.23%
S&P/ASX 200 4,983.50 -78.95 -1.56%

Iran to Pay $816 Million to Support Local Carmakers, Times Says

Iran’s ministry of industries, mines and commerce will pay 10 trillion rials ($816 million) to Iranian carmakers as they are going through “financial problems,” Tehran Times reported.

Iran’s two biggest automakers, Iran Khodro Co. and SAIPA, are struggling to pay debts to domestic part makers, Industries, Mines and Commerce Minister Mehdi Ghazanfari said according to the newspaper.

Car production decreased by 37.4 percent in the first four months of the current Iranian year that started on March 20, compared to the same period last year, the report said. Some 1.6 million cars were manufactured in Iran last year and about 55,000 cars exported, Ghazanfari told the newspaper.

To contact the reporter on this story: Yeganeh Salehi in Tehran via Dubai at

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Sponsored Link