Iran’s car production decreased by as much as 40 percent in the first three months of the current Iranian year from the year-ago period, Shargh reported, citing Mohammad-Reza Najafi-Manesh, a member of Iran’s Automotive Part Makers Association.

The industry is being hurt by the government’s setting of prices for domestic cars, he added, according to Shargh.

To contact the reporter on this story: Yeganeh Salehi in Dubai at yalehi@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net