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TEHRAN, July 25, YJC - In the general annual gathering of IKCO shareholders, the performance and strategic plans of the company in the fields of continued profitability, introduction of new vehicles, market leadership, export development and platform design was announced.
TEHRAN, Young Journalists Club (YJC) - During the gathering, Hashem Yekehzare Iran Khodro Industrial Group' CEO reported on the company's performance in terms of growth in production, profitability, quality boost, new vehicles introduction, structural reform, export development and realization of goals and policies released in the Iranian fiscal year ending on March 20, 2017.
He also referred to the improvement of international cooperation, development of products and markets, and financial-economic development as one of the main pillars of IKCO's movement, which has accelerated as the business environment improved in the post-JCPOA era.
"IKCO managed to produce 651,000 sets of passenger cars and pick-ups last year (March 20, 2016 to March 20, 2017) and maintained its share of more than 50 percent in passenger cars' market for the third consecutive year," claimed Yekehzare.
In the meantime he noted that IKCO car production and quality boost simultaneously and emphasized, "Last year IKCO Rana, Suzuki Grand Vitara, Peugeot 206, IKCO Dena, IKCO Soren and Renault Tondar 90 of IKCO were assessed with higher quality specifications and this year Tondar 90+ and Dena+ were badged with four and three quality stars at their first assessment."
During this year's annual gathering of IKCO shareholders, the CEO referred to the production of new cars in order to meet customers' needs and declared, "Turbocharged IKCO Dena+, Dena+ equipped with automatic transmission and IKCO Soren with diesel engine will hit the market this year."
"Creating and expanding international partnerships, developing platforms and powertrains, diversifying products portfolio and enhancing the quality of products has been considered in regard with product development and market share," Yekehzare said.
Emphasizing other operations taken place in his company, he mentioned, "IKCO has set its international cooperation target with establishing IKAP as a JV with Peugeot, the MOU and 10-sided international contract for design and development of new product platform and new powertrain design as well as a variety of collaboration models."
He also pointed to IKCO's future plans adding that his company, based on the 2025 outlook, has targeted production of 1,100,000 sets of cars by 2021.
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