Azernews.Az

The Trade Promotion Organisation of Iran has announced the list of cars which are allowed to be imported in the current Iranian calendar year which began on March 21, ISNA news agency reported.

According to the report, 25 car brands have been included in the list, such as South Korean brands (Kia and Hyundai), Chinese brands (SAIC motors), Italian brands (Fiat, Alpha Romeo), Japanese brands (Honda, Mitsubishi), German brands (ABT), and Swedish brands (Volvo).

In January, Iran's Ministry of Industry, Mine, and Trade banned importing cars with engines up to a 2500CC capacity.

Iran imported 44,341 cars worth over 1.084 billion dollars in the previous Iranian calendar year which ended March 20.

The amount shows a 30.59 per cent and 11.3 per cent increase in terms of value and number respectively, compared to the preceding year.

Industrial Development and Renovation Organisation's chairman Gholamreza Shafei said in December 2012 that the main problem facing the Iranian car industry is not international sanctions, but the shortage of revolving capital.

Iranian carmakers are manufacturing at 50 per cent their nominal capacity, he said. This is due to a shortage of capital, Fars news agency quoted him as saying.

Iran plans to manufacture at least three million cars by 2025 and export some one million, Iranian Industry, Mines, and Trade Minister Mehdi Ghazanfari said.