Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

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

Don't Miss Out —
Follow us on:

Aug. 9 (Bloomberg) -- 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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.