Iran - a key region for the industry
Iran is one of the largest and most heavily populated countries in the Middle East. With 80 Mio. inhabitants and a GDP of USD 4.928,70 which is high for this region, Iran has been identified as a market with huge untapped potential. After a two year-long recession Iran's economy grew in strength following initial sanction relief in 2014/2015. The 2014/2015 GDP is expected to have grown by 3 percent and is forecast to grow by 5,8 percent in 2016. The Iranian automotive industry is the country's second largest sector after oil and gas, which make up more than 10 percent of the GDP.
Iran is the biggest automotive manufacturing country in the Middle East.
Iran comes in at number 15 in terms of automobile production worldwide.
In 2014/2015 Iran produced 1.11 million vehicles. According to an automotive study by Roland Berger Consulting, sales of cars in Iran will double to 1.8 million vehicles by 2020. Iran still has great potential in terms of vehicle ownership. Germany has around 500 cars for every 1,000 inhabitants, while Iran has only 147 cars for every 1,000 inhabitants.