French auto-industry recovers, plans return to Iran
Anustup Roy
Press TV, Paris
After making losses for four years, French car manufacturers are showing signs of recovery. Peugeot Citroen had suffered the most. Among the various reasons was its abrupt exit from Iran, its biggest market outside Europe. Now the company is returning to profits.
And its general director has told French media Peugeot is ready to start working with its former partner Iran Khodro.
When Peugeot Citroen’s troubles began in 2011, it was losing 200 million euros every month. Observers blamed its strong presence in Europe’s crisis-hit countries.
But whistle blowers and labour unions said US based anti-Iranian lobbies were threatening the French car maker to either leave Tehran or face big sanctions.
The new partnership will see Peugeot supply spare parts to Iran Khodro and the cars made in Iran will be sold not just in Central Asia but also across Russia and the Persian Gulf.
For carmakers like Peugeot and Renault, Iran is a lucrative market. And that could help them face the market in France which is still weak.
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