Hyundai Motor to resume export of auto parts to Iran in April

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Hyundai Motor Group is gearing up for the reentry into the reopened Iranian market by exporting the semi-knock-down (SKD) products.

The automotive group said Tuesday that its two auto-making arms –Hyundai and Kia – will supply its complete knock-down (CKD) products to Iranian automobile companies, The Korea Herald reported.

Market watchers forecast the automaker’s export resumption will begin in April for the second quarter.

Before the Iranian sanctions, Hyundai Motor Group had sold around 20,000 units to Iran cars annually. The automaker stopped its exports of cars and auto parts in 2012 due to the sanctions.

The nation’s second largest conglomerate resumed selling cars in Iran last year, albeit on a small scale. However, the recent changes involving Iran’s modification of its nuclear centrifuges are expected to affect the market.