Financial Tribune - In the last fiscal year (ended March 20, 2019), a total of 955,923 cars and commercial vehicles were produced in Iran, indicating a 37.8% year-on-year decline.

Data released by the Industries Ministry show that during the 12 months to March 20, a total of 891,786 cars were made in the country, 38.2% lower than 1,442,598 units made a year earlier.

Commercial vehicle production also registered a 31.1% year-on-year decline. During the period, 64,137 trucks, buses, minibuses and pickups were produced, significantly lower than the previous year’s 93,158 units.

The daily average car production in Iran dropped to 2,443 from 3,952 YOY. The number of commercial vehicles rolling out of Iranian factories per day also dipped to 175 from 255 in the previous year.