Hyundai to Resume Auto Parts Export to Iran Next Month

Posted By: Hamid Moarefon: Thursday, March 17, 2016In: Parts

The re-opening of the Iranian market proves to be a second chance for Hyundai Motor Group. Now, the giant Korean automaker is preparing to re-enter the country by exporting its Complete Knock Down (CKD) products, also known as semi-knockdown products, that are designed to be assembled locally. Just recently, the Group announced that its two automobile-making arms—Hyundai and Kia—will supply these products to the country’s automobile companies.

Forecast by market watchers show that export resumption will start in April for the second quarter.

Prior to the Iranian sanctions, Hyundai had sold approximately 20,000 units to Iran cars yearly. Due to the sanctions, the carmaker halted its export of automobiles and auto spare parts in 2012.

Iran’s second largest conglomerate resumed its car sales in the country last year, though on a small scale. Yet, the recent changes involving the country’s deactivation of its nuclear centrifuges are still anticipated to have an impact on the market.

Hamid Moaref

Hamid Moaref has always been fascinated by cars and the automotive industry. His family has a longstanding association with the industry and has been in the tire business for the past 35 years. Raised in Dubai, Hamid attended Capilano University in Vancouver where he graduated with a BBA in marketing before attending an intensive course in magazine publishing in 2005. He has been the publisher and chief editor of Tires & Parts magazine for the past ten years.