Iran: Passenger Car Market 2024

Passenger Car Market Size in Iran

In 2021, the Iranian passenger car market increased by 4.3% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, showed a noticeable curtailment. Passenger car consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Passenger Car Production in Iran

In value terms, passenger car production stood at $X in 2021 estimated in export price. In general, production, however, saw a slight reduction. The most prominent rate of growth was recorded in 2015 with an increase of 46% against the previous year. Passenger car production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Passenger Car Exports

Exports from Iran

In 2021, overseas shipments of passenger cars increased by 112% to X units, rising for the second consecutive year after three years of decline. In general, exports, however, saw a dramatic descent. The growth pace was the most rapid in 2014 with an increase of 476%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, passenger car exports soared to $X in 2021. Over the period under review, exports, however, recorded a significant curtailment. The pace of growth was the most pronounced in 2014 with an increase of 403%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Azerbaijan (X units) was the main destination for passenger car exports from Iran, with a 123% share of total exports. Moreover, passenger car exports to Azerbaijan exceeded the volume sent to the second major destination, Uzbekistan (X units), sixfold. Spain (X units) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume to Azerbaijan stood at -10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+8.3% per year) and Spain (-27.6% per year).

In value terms, Azerbaijan ($X) remains the key foreign market for passenger cars exports from Iran, comprising 52% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 17% share of total exports. It was followed by Spain, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Azerbaijan amounted to -14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (-30.4% per year) and Spain (-28.5% per year).

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, shrinking by -20.5% against the previous year. In general, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 80%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Iran

Passenger car imports into Iran dropped notably to X units in 2021, declining by -65.1% against 2020. Overall, imports saw a precipitous contraction. The pace of growth was the most pronounced in 2016 with an increase of 53% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, passenger car imports contracted remarkably to $X in 2021. In general, imports faced a dramatic downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 63%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main passenger car supplier to Iran, accounting for a 1,246% share of total imports. Moreover, passenger car imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), twofold. South Korea (X units) ranked third in terms of total imports with a 498% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-16.8% per year) and South Korea (+31.0% per year).

In value terms, the largest passenger car suppliers to Iran were the United Arab Emirates ($X), Oman ($X) and China ($X).

In terms of the main suppliers, Oman, with a CAGR of +67.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average passenger car import price amounted to $X per unit, declining by -52.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 37% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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