Reporting "Asre Khodro", Peugeot, the biggest-selling European automaker in pre-sanctions Iran, suspended sales in ۲۰۱۲ when an international boycott due to Iran's nuclear program was extended to cars. Most sanctions were lifted in January.
The French carmaker's sales peaked at ۴۵۸,۰۰۰ vehicles before its withdrawal, nearly ۳۰ percent of the Iranian market, but it now faces stiff competition from Chinese carmakers that have grabbed more business during the sanction years, as well as from western rivals such as Renault (RENA.PA), who are also flocking back with newer models.
Iran's Minister for Industry Mohammad Reza Nematzadeh will visit PSA's Velizy research center near Paris on Thursday to discuss cooperation with the carmaker, CEO Carlos Tavares told reporters at the Paris autoshow.
Source: reuters.com
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