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Stormy waters for truck maker, Volvo in IranWednesday, 08 February 2012
After a great year for truck maker Volvo's sales in Iran, it is now grinding to halt after U.S. sanctions against the country.
The Swedish business daily, Dagens Industri reports that AB Volvo's exports of trucks to Iran set a record in 2011 and was thus a more important market than both Canada and Sweden.
Volvo Trucks' deliveries to Iran grew by 20 percent by 2239 trucks during the first nine months of last year. But after the new sanctions against Iran from the United States at the New Year, sales have catapulted to null.
"Right now there so we do not have any supplies, for the moment, "says Jenny Björsne, information manager at Volvo Trucks, to the paper.
Volvo has several activities in Iran, including Volvo Buses, Volvo Penta, Renault Trucks and Volvo Construction Equipment.
"We can see quite easily that the interest in our products has gone down, our customers can not trade,” says Jenny Björsne of Volvo's press department, to Dagens Industri.
Volvo's sales in Iran amounted to Skr 3 billion last year which represented half of all Swedish exports to Iran, according to the paper.
By Scancomark.se Team
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