Wednesday, December 4, 2013

French car manufacturer poised for scramble to free Iran

PARIS / DUBAI, Nov 28 Reuters)-Peugeot and Renault are among Western companies send executives to an automotive Conference, which opens in the Iran on Saturday - the go-ahead more open racing business after sanctions trigger.

The French car manufacturer want to continue vehicle sales in the Iran, to reclaim its position in the market before the mass arrival competitors behind any lasting relaxation, the consequences could with a six-month easing of trade restrictions.

Production of domestic automobile industry of Iran, unusually developed for the Middle East reached 1.6 million cars in 2011, the year crippling sanctions were introduced. About half of this expenditure accounted for leading manufacturer Iran Khodro.

Have a handful of foreign production partners - including the South Korean KIA, Suzuki Motor Corp. and the two French manufacturers - manufacturer SAIPA Khodro and no. 2 and exported some of its vehicles.

The Conference in Tehran planned before last weekend Iran talks breakthrough, nuclear weapons consists of representatives of the German, Korean and Japanese manufacturers on their payroll.

Volkswagen, Suzuki, Kia and Hyundai partner denied all Iranian media reports that she wanted to visit, but Renault and PSA Peugeot Citroen confirms that they were sending representatives.

In return for companies by Tehran to suspend key parts of its nuclear program agreed the so-called P5 + 1 powers on November 24, a six month suspension of the trade sanctions on selected goods including auto parts.

The easing by starting in early January, is good news for the French, the semi of built cars in the Iran as a component for installation by local partners of Iran Khodro and SAIPA "kits" until very recently published.

Meanwhile, U.S. automakers remain Malays from the Iran national regulations, including a trade embargo, which provides immediate relief is not subject to.


In the case of a continuing diplomatic thaw Iran has potential, a profitable, fast growing car soon more than 2 million vehicles market annually, analysts say.

"There is enormous and immediate interest in the Iran," said Thierry Coville, an Iran specialist at IRIS, a French international relations think tank.

Sanctions relief on cars brings tangible benefits to ordinary Iranians that in six months to win domestic support for more concessions for a final nuclear deal can help President Hassan Rouhani, Coville said.

"It will be pretty fast in a sector, which is a great source of Iranian jobs-, so this is more than just symbolic impact is."

More than 100,000 auto workers were fired when sanctions of Iran's largest manufacturing industry, with plants, which came now more than half capacity, according to official data.

In combination with the increasing average age of the vehicles on the streets of Iran, this tempting tier replacement demand, released could spell, if full market opening were followed by the recalcitrant inflation and a stronger Organization.

Peugeot reached a market share of 29 percent to the top 458,000 sales 2011 Renault claims 5.9 per cent of the national registrations. The former President Mahmoud Ahmadinejad drove a Peugeot 504.

But the substantial tightening of US led sanctions against the oil industry and financial transactions, production to 292,000 cars in the first half of this year fell Persian, which began in March.

Western automakers seem to have for months before an expected reopening positioning was have.

"We've been in our hands,", said a source close to Renault, adding that some Iranian production was running from stocks of components, the June US Executive order parts shipments before you stop this time.

The French carmaker since talks on a resumption of deliveries, weeks, the source said.

Peugeot situation is complex, because shipments halted at have more - since February 2012 - and one of the Paris-based carmaker pursued strategic alliance with General Motors 7 percent shareholder.

Peugeot hopes that an easing of the sanctions the 150 million euro ($204 million), which they erased by profit, finances should be restored, what Chief Jean-Baptiste de Chatillon analysts said this week.

"We need would several weeks, to start these operations again," said a company spokesman. "But we are not there yet."

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