Volkswagen to Make a Comeback to Middle Eastern Largest Market: Iran
Volkswagen, the German carmaker will be making a comeback to the Iran. Seventeen years after the company pulled out of the country, the future prospects of the most lucrative car market in the Middle Eastern market have made it return.
Volkswagen is locally partnering with Mammut Khodro.
From the next month, Volkswagen is on schedule to sell its Tiguan and Passat models. The Iranian market is worth more than one million cars yearly.
Volkswagen will be joining the other carmaker, Renaut, Peugeot and Citroën, all of whom have returned to the Iran in 2015. All these companies have a head start in the market that Volkswagen will have to tackle. For example, Renault plans to increase the annual local production capacity to 350,000 vehicles, while Peugeot-Citroën set aside AED 1.2 Billion for building a new factory in Iran.
Additionally, in 2016, Citroën’s higher-end brand DS launched the DS’ first store in Tehran, Iran.