Boston, MA -- (SBWIRE) -- 10/13/2014 -- Iranian auto production has got off to a strong start in FY14/15. According to a report by IRNA, the country registered a 73.4% year-on-year (y-o-y) increase in auto output to 404,010 vehicles between March 21 and August 22, compared with 232,993 vehicles in the same period a year earlier. A total of 345,217 sedans were manufactured in the reported period, representing a y-o-y increase of 74.3% from 198,059 units. Production of SAIPA's Nasim and Saiba Pride models reached 75,863 units between March 21 and August 22, while production of Peugeot's 405 and 206 reached 39,475 and 33,962 units, respectively. A total of 77 buses, 27 minibuses, 4,060 trucks and 54,629 vans were produced by Iranian automakers in the reported period.

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Given this strong start to FY14/15, BMI believes the time is right to revise upwards our current production forecasts for Iran. We are now targeting 47.6% growth in car output, to reach 900,790 units.

It is clear that there is strong demand for new vehicles from the Iranian population at present. As such, the potential for improved foreign relations between Iran and the West over the short-to-medium term has generated considerable interest from carmakers, none more so than French brands Renault and Peugeot, which controlled around a third of the market's output before they withdrew in early 2012 in line with Western sanctions. While both carmakers remain keen to re-enter the market and have partnerships in place to do so, the biggest threat to realising the full return of foreign brands is our Country Risk team's view that a permanent nuclear deal is unlikely to be reached by the November 24 deadline, resulting in some ongoing sanctions.

We believe the most likely scenario moving into 2015 is one of protracted talks between Iran and the West. This could take the form of a further extension of the current agreement following the November 24 deadline, or the announcement of a partial deal which would help build confidence in continued...

The Iran Autos Report features the latest data and forecasts covering production, sales, imports and exports.

Business Monitor International (BMI)'s Iran Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Iran.

Key Benefits:

- Benchmark BMI's independent automotives industry forecasts on Iran to test other views - a key input for successful budgetary and planning in the Iranian automotives market.

- Target business opportunities and risks in the Iranian automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Iran.

- Assess the activities and market position of your competitors, partners and clients via our Competitive Landscape Analysis.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts and views, covering production, sales and the introduction of new technology or products.

Global, Regional and Country Industry Overviews

In-depth analysis of the major global and regional developments in the market, which can be linked with the country industry overview, providing cross-country investment, product and financing trends that will affect each market, supported by BMI?s global and regional industry forecasts.

Business Environment Rankings

BMI's proprietary Autos Business Environment Rankings are a unique country-comparative Risk-Reward Rankings index that separately analyses the risks and rewards of operating in each market. It is aimed at investors (including manufacturers, suppliers and dealers) who seek to either identify and compare market opportunities, or evaluate country-specific operational challenges.

The rankings methodology makes sophisticated use of over 40 industries, economic and demographic data points.

BMI Industry Forecasts

Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Total production value (US$bn); total production of units; production by vehicle-type (including cars, commercial vehicles, trucks and buses); total sales value (US$bn); sales by vehicle-type, including passenger cars and commercial vehicles (vans and microbuses, pickups, trucks and buses, 4 wheel drive); total exports by value (US$bn) and by units; total imports by value (US$bn) and by units; contribution to GDP; employment in industry.

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