Fiat Stops Sales to Iran

Fiat SpA declares it has halted the sale of all vehicles and parts to Iran, citing its support for a diplomatic solution to the country's disputed nuclear policy. The company notes that its subsidiaries will honor a limited number of binding obligations.

Fiat says it sells only commercial and civilian products in Iran. The company describes its past sales in the country as "immaterial" in volume and in compliance with all EU, Italian and United Nations regulations.

Activist groups are urging carmakers to voluntarily cease doing business in Iran because of the nuclear controversy. Fiat's move follows similar announcements by Hyundai, Porsche and PSA Peugeot Citroen.