Iranian Industry, Mining and Trade Minister Reza Rahmani said Renault and Peugeot would have no place in our country.
Iranian Labour News Agency
Iranian Industry, Mining and Trade Minister Reza Rahmani said Renault and Peugeot would have no place in our country.
Renault’s (RENA.PA) revenue and profits fell in 2018, hit by collapsing diesel sales, exchange-rate setbacks and a withdrawal from the Iranian market, the French carmaker said.
Renault SA is shaping up to be the latest European company to fall victim to Donald Trump’s renewed sanctions on Iran -- even if it doesn’t sell cars in the U.S.
Minister of Industry, Mine and Trade said that France’s PSA Group and Renault automakers have not yet made an official announcement for pulling back over US sanctions.
French carmaker Renault will maintain its presence in Iran while taking measures to avoid the risk of penalties for breaching renewed US sanctions, CEO Carlos Ghosn said.
Data released by Renault indicates that the company sold 99,617 cars in Iran during the first eight months of the current fiscal.
While Iran’s recent joint venture agreement with Renault has boosted hopes for the country’s economy, Professor David Bailey suggests that the accord would threaten French carmaker’s rivals in the Middle Eastern country.
Iran's RISECO and MECAPLAST of France signed a joint venture in a situation that 30-percent exports condition will be implemented for a spare part contract.
French Ambassador to Iran Francois Senemaud said on Friday that his country’s automakers are determined to have cooperation with their Iranian counterparts.