New Volkswagen models Golf Cabriolet and Passat are stored at the 'CarTowers' in the theme park 'Autostadt' next to the Volkswagen plant in Wolfsburg March 9, 2011. REUTERS/Christian Charisius
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Volkswagen AG plans to sell cars in Iran for the first time in 17 years, taking advantage of easing sanctions to expand amid concerns about stalling growth in Europe and China. Volkswagen has signed a contract with local importer Mammut Khodro to offer Tiguan compact SUVs and the Passat family car, mainly at dealerships in the Tehran area, VW said in a statement. Iran auto production growth will average 11 percent through 2021, Fitch Group's BMI Research said in April.European cars were popular in Iran before the 1979 Revolution and eight-year war with Iraq decimated the economy and strained relations with western companies.
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