Chinese Car Makers Poised to Fill Gap in Iranian Market as US Sanctions Bite
China appears poised to fill the gap in Iran left by French automakers who closed their Iranian operations before the reimposition of U.S. sanctions on Tehran. The Chinese move could open yet another dispute between Washington and Beijing, adding to the acrimony between the two, which are locked in an escalating trade dispute. European automakers French automaker Renault, which had an eight percent share of the Iranian automotive market, the 12th largest in the World, announced last month that it would join more than 100 international companies that have pulled out of Iran to comply with U.S. sanctions, reimposed beginning Tuesday, despite the fact Renault has no operations in the United States. Peugeot announced its departure in June, it had a 34 percent market share in Iran, selling about 500,000 cars a year. German automaker Daimler has also announced it has "suspended [its] activities in Iran, which were anyway very...
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