Kia Pull-Out Marks First Serious Sanction Blow For Auto Sector

While the withdrawal from Iran of international carmakers such as Toyota Motor has been seen as a gesture that will not have a great impact on the industry given the low sales involved, news that South Korean Kia Motors will stop exports to the country is more serious. Kia had a successful assembly agreement with domestic carmaker Saipa, which saw the Pride become one of the country's most popular models, accounting for 30-40% of all cars on the road, according to The Financial Times (FT).

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