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SEAT Drops Plans to Enter Iranian Car Market
Volkswagen AG’s SEAT unit tells Reuters it has decided against pursuing the Iranian market for now and will focus instead on established operations in Europe, northern Africa and Latin America.
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Volkswagen AG’s SEAT unit tells Reuters it has decided against pursuing the Iranian market for now and will focus instead on established operations in Europe, northern Africa and Latin America.
Reuters says the company has been evaluating the merits of Iran’s reopened car market since March, when it was invited to do so by the Spanish government. The company insists that its decision was not influenced by U.S. President Donald Trump’s confrontational stance on Iran’s international nuclear agreement.
SEAT is VW Group’s only brand to generate double-digit sales growth in Europe this year. The unit posted a 15% gain to 302,800 units through the first nine months, according to trade group ACEA.
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