With tensions between the West and Iran easing and world powers lifting international sanctions, the Middle Eastern country has the opportunity to attract some major players from the auto industry in its market.
One of these is Audi, which came out unscratched from the dieselgate scandal, in terms of sales last year, and still has a goal of reaching 2 million annual sales by 2020.
Representatives of the four-ring brand are currently in Iran, as AutoNews reports, for talks with possible local importers and to examine the prospects for business: “There is growing potential for luxury cars“, said an Audi representative.
As the VW Group-owned brand plans to enter the Islamic Republic, Daimler has similar intentions, as letters of intent have been signed by its trucks division with joint venture partners Iran Khodro Diesel and Mammut Group.
BMW, on the other hand, says that a future entry on the Iranian market depends “on political and economic developments“.
The report indicates that German companies may be able to export goods worth €10 billion ($10.9 billion) to Iran. This is the first time that Iran is opening up as a market, after it was shut off, following the Islamic Revolution in 1979.