Toyota had suspended auto exports to Iran
By Andrew C., 26 Aug, 2010. 0 Comments
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Toyota announced today that it had suspended auto exports to Iran indefinitely since June, due to the amid growing international scrutiny of companies dealing with the country. For those who don't know, back on July 1, U.S. President Barack Obama signed a new law that imposes though new sanctions on Iran's banking and energy sectors, in an attempt to curb nuclear work that Tehran says is for energy production but it is suspected by Washington to be used in order to develop bombs. "We made the decision after taking into account the international situation including sanctions by the U.S. and the U.N. on Iran," said Toyota. It appears that this decision was taken because United States is currently Toyota's biggest market. Regarding Iran, Toyota exported almost 4,000 automobiles (such as Land Cruiser) to Iran in 2008, and the number dropped to 246 in 2009 due to the global economic downturn. In 2010, Toyota exported only 222 units by the end of May.
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