Middle East

PSA will pay Iran partner $446 million compensation for quitting market, report says

Feb. 8, 2016 11:28 CET

PSA will pay its Iran partner $446 million in compensation for losses incurred after it quit the country due to sanctions, the Iranian company told a local news agency....
Read More »

PSA will invest $435 million to upgrade plant in Iran

Jan. 28, 2016 10:53 CET

PSA/Peugeot-Citroen and its long-time Iranian partner will invest $435 million upgrading their auto plant near Tehran to produce 100,000 vehicles a year. The revamped factory will make the Peugeot 208 hatchback, 301 sedan and 2008 crossover....
Read More »

PSA board may meet over deal with Iran, report says

Jan. 25, 2016 23:01 CET

PSA could convene a board meeting to discuss business opportunities in Iran on Wednesday, a source close to the company said ahead of a visit by Iranian President Hassan Rouhani. Before leaving Tehran, Rouhani was quoted on state TV as saying he expected to close a deal with PSA during the trip....
Read More »

PSA, Renault, FCA eye deals as Iran president tours EU

Jan. 25, 2016 16:14 CET

Iranian President Hassan Rouhani arrived in Italy on Monday for the first stop of a European tour that may see him explore manufacturing partnerships with Fiat Chrysler Automobiles, PSA and Renault. FCA CEO Sergio Marchionne has said he sees opportunities in Iran....
Read More »

Renault plans bigger presence in Iran after return

Jan. 21, 2016 13:19 CET

Renault CEO Carlos Ghosn says the automaker plans a "much more massive" presence in Iran when it returns to the market following the lifting of international sanctions. Renault halted business in Iran three years ago to comply with trade restrictions over the country's nuclear program....
Read More »

Audi considers move into Iran

1:15 pm U.S. ET | Jan. 18, 2016

Audi is gauging its first-ever entry into the Iranian auto market where the German firm sees "growing potential" for luxury cars after world powers lifted international sanctions....
Read More »

Ford expects 2015 pretax profit to set record, says '16 may be even better

6:58 pm U.S. ET | Jan. 12, 2016

Ford said it earned a record pretax profit of at least $10.5 billion in 2015 and that it would match or beat that result in 2016. It also said it would return $1 billion to shareholders in the form of a special 25-cent-per-share dividend, but the news failed to halt a three-month decline in the automaker's stock price....
Read More »

PSA uses French elegance to push upscale DS brand in Iran

Oct. 20, 2015 11:20 CET

PSA will launch its upscale DS brand in Iran to capitalize on the country's association of France with luxury and elegance. The move follows a deal to end Western sanctions against Iran....
Read More »

Volkswagen, Skoda look into Iran market entry

Sept. 18, 2015 16:26 CET

Volkswagen and Skoda are looking at entering Iran following the country's deal with the West to end sanctions. The move would challenge French rivals in the Middle East's largest car market....
Read More »

Renault aims to take lead from PSA in post-sanction Iran

Sept. 6, 2015 06:01 CET

Renault plans to become the biggest-selling European carmaker in Iran, the Middle East's largest market, ahead of French rival PSA. Renault plans to use cash that had been trapped in Iran to seize the advantage, sources said....
Read More »

French minister sees smoother return to Iran for Renault than PSA

July 30, 2015 12:47 CET

PSA/Peugeot-Citroen, previously the market leader in Iran, could find it more difficult to return to the country than rival Renault following a dispute over the carmaker's 2011 market exit, Laurent Fabius, France's foreign minister, said after talks with Iranian leaders....
Read More »

PSA says anti-French backlash weighs on Iran talks

July 29, 2015 12:20 CET

PSA's talks on a manufacturing venture with Iran's biggest carmaker are being undermined by anti-French sentiment in the country, CEO Carlos Tavares said. Iranians are hostile because France took a tough line in talks to lift international sanctions against Iran....
Read More »

Daimler in talks on truck partnership, Iran Khodro says

July 28, 2015 12:01 CET

Daimler is exploring a partnership with Iran Khodro as it weighs a return to Iran's market for trucks, vans and buses, the Iranian automaker's CEO said. European carmakers are planning their return to Iran after the country agreed to curb its nuclear program in return for the lifting of international sanctions that have crippled its economy....
Read More »

Renault seeks to stake in Iranian partner, report says

July 25, 2015 09:13 CET

Renault is in talks to buy a minority stake in its Iranian joint venture partner, the Wall Street Journal cited an executive at the Iranian firm as saying....
Read More »

PSA plans to export Iran-made cars after nuclear deal

July 24, 2015 06:01 CET

PSA aims to export cars it produces in Iran with local partner Iran Khodro, as the French company looks to rebuild its business in the country following the diplomatic agreement last week ending sanctions over Iran's nuclear program....
Read More »

Renault mulls Iran launch for Kwid crossover

July 20, 2015 17:28 CET

Renault may sell its new Indian-built Kwid crossover in Iran in a bid to freshen its model lineup as it prepares to return to the market following a deal to lift economic sanctions....
Read More »

Automakers vie for pole position in Iran

July 18, 2015 06:01 CET

Carmakers are racing for Iran following the country's breakthrough nuclear deal with Western powers - pitting past market leader PSA/Peugeot-Citroen against challengers including Volkswagen and Renault....
Read More »

VW explores return to Iran after nuclear sanctions lift

July 16, 2015 14:48 CET

Volkswagen has taken the first steps to entering Iran after the Islamic Republic's nuclear accord with the West pointed to an easing of economic sanctions that have prevented carmakers from doing business in the country....
Read More »

PSA plans to expand Iran venture after nuclear deal

July 15, 2015 10:53 CET

PSA/Peugeot-Citroen is in advanced talks over an Iranian carmaking venture with its local partner, Iran Khodro. The new venture would build cars from scratch using the automaker's latest vehicle architectures and engines....
Read More »

PSA eyes re-entry to Iran's auto market, report says

May 8, 2015 15:17 CET

PSA/Peugeot-Citroen is in talks about a possible joint venture with Iranian carmaker Iran Khodro if sanctions against the Islamic Republic are lifted, a German magazine reported, citing Peugeot brand chief Maxime Picat....
Read More »

Oman will use Italian expertise to help build auto industry

April 17, 2015 06:01 CET

The Oman government has bought into an Italian supplier as part of its goal to develop car production in the oil-rich Middle Eastern state. The state-owned Oman Investment Fund last month bought a 40 percent stake in Italian thermoplastic parts supplier Sigit....
Read More »

Nuclear deal may unleash big, pent-up Iran market

12:01 am U.S. ET | April 13, 2015

The prospective nuclear agreement among Iran, the U.S. and four other nations could have major ramifications for the auto industry by opening up a new and significant emerging market....
Read More »

Automotive News Cover
News by Brand