Tehran, Iran – June 18, 2024 – Shandong Victory Auto Parts Technology Co., Ltd., a leading Chinese manufacturer of automotive components, announced its successful participation in the 2024 Iran International Auto Parts Exhibition (IAPEX), held from June 16 to 19 at the Tehran International Convention and Exhibition Center (TICECC). The exhibition, one of the most influential automotive trade events in the Middle East, served as a strategic platform for the company to enter Iran’s $379.4 billion automotive market and establish partnerships across the region.
the company’s participation aligns with Iran’s urgent demand for reliable, cost-effective auto parts—especially as local production fails to meet domestic needs, creating substantial import opportunities. “Iran’s status as a major automotive producer in the Middle East, combined with its growing aftermarket, makes it a pivotal market for our global expansion,” said Mr. Zhang Wei, Global Sales Director of Shandong Victory. “This exhibition allows us to engage directly with Iranian distributors, assemblers, and OEMs, demonstrating our ability to support the country’s automotive supply chain resilience.”
Iran’s automotive landscape is shaped by two defining factors: an aging vehicle fleet and persistent supply chain gaps due to production declines. With domestic car production dropping 12% year-on-year amid economic pressures, the market relies heavily on imported replacement parts, while the average vehicle age exceeds 15 years in many urban areas. Shandong Victory’s exhibition focused on three high-demand product categories:
Heavy-Duty Wear Components: The company showcased a full range of air filters, oil filters, and brake pads engineered for Iran’s arid, dust-prone climate. Using nano-fiber filtration technology and heat-resistant friction materials, these parts offer 40% longer service life compared to local alternatives—critical for cost-conscious Iranian drivers facing inflationary pressures. “Our filters can withstand the harsh conditions of Tehran’s deserts and urban traffic, reducing maintenance costs for both individual car owners and fleet operators,” noted Mr. Chris Liu, MENA Regional Sales Manager.
Engine and Transmission Parts: Responding to Iran’s large population of older Peugeot and Renault models, Shandong Victory displayed precision-machined crankshafts, camshafts, and clutch assemblies compatible with these popular vehicles. These components comply with IATF 16949 standards and are priced 30-40% lower than European imports, addressing Iran’s need for affordable yet reliable replacements.
Customized OEM Solutions: For local manufacturers like Iran Khodro and Saipa, the company presented tailor-made electronic control units (ECUs) and sensor modules. These parts support the transition to more fuel-efficient engines—a priority as Iran seeks to reduce energy consumption amid global market fluctuations.
Complementing its product displays, Shandong Victory offered localized services including Persian-language technical documentation, 48-hour spare parts delivery commitments for key markets, and training programs for distributor technicians. This approach aligns with the growing trend of Chinese auto parts companies establishing long-term presence in Iran, following the success of regional delegations like the (Ruian) business group that achieved $52 million in at a recent Tehran exhibition.
Iran’s automotive market is projected to grow at a 9.57% compound annual rate through 2029, reaching $599.3 billion, driven by pent-up demand for vehicle replacements and government efforts to revitalize domestic production. Despite recent production declines due to pricing regulations and inflation, the aftermarket remains robust, with imports accounting for 65% of high-quality components. This gap creates significant opportunities for foreign suppliers like Shandong Victory.
The company’s participation also capitalizes on deepening Sino-Iranian automotive cooperation. Chinese manufacturers have increasingly become preferred partners as Iran seeks to diversify its supply chains, with recent trade data showing a 22% year-on-year increase in auto parts exports from China to Iran. Shandong Victory’s ISO 9001-certified production facilities and compliance with Iranian quality standards further strengthen its competitive position.
“Iran’s strategic location offers access to neighboring Central Asian markets, making it a potential regional hub for our operations,” Zhang explained. “We are exploring partnerships with local distributors to establish a warehousing network in Tehran and Mashhad, which would reduce delivery times and support after-sales services across northern Iran.”
During the four-day exhibition, Shandong Victory’s team conducted over 80 one-on-one consultations with Iranian industry stakeholders, focusing on long-term distribution agreements and OEM supply contracts. Early results included preliminary deals with three Tehran-based distributors specializing in commercial vehicle parts, with initial order volumes exceeding $300,000.
“ Iranian businesses value both product quality and reliable support,” said Chris Liu. “Our flexible MOQ (minimum order quantity) policies and technical training programs have resonated strongly—many clients are looking to move beyond transactional relationships to stable partnerships.” The company also participated in the exhibition’s “Sino-Iran Automotive Cooperation Forum,” delivering a presentation on “Adapting Chinese Components to Middle Eastern Market Requirements.”
Notably, Shandong Victory’s emphasis on cost-effectiveness addresses a key concern for Iranian buyers. With inflation eroding consumer purchasing power, the company’s ability to offer premium components at mid-range prices has positioned it ahead of European competitors. “We’ve had particularly strong interest in our brake pad range, which meets ECE R90 safety standards but costs 50% less than German alternatives,” Liu added.
IAPEX 2024 marks the beginning of Shandong Victory’s sustained engagement with Iran. Beyond immediate sales goals, the company plans to establish a regional office in Tehran by early 2025, staffed with local sales and technical personnel. This presence will support plans for joint production of selected components with Iranian manufacturers, aligning with Iran’s broader industrial localization objectives.
The company is also monitoring opportunities in Iran’s emerging electric vehicle (EV) sector. While EV adoption remains nascent, government incentives for green transportation and partnerships with Chinese EV makers signal future demand for battery components and charging infrastructure parts—areas where Shandong Victory has invested heavily in R&D.
“Our participation in IAPEX is not just about short-term orders; it’s about building trust in the Iranian market,” Zhang emphasized. “We see Iran as a long-term strategic partner, and we’re committed to supporting its automotive industry’s recovery and growth. The positive responses we’ve received here confirm that our quality-focused, customer-centric approach is the
right strategy.”
![The Iranian Auto Parts Exhibition in June 2024]( "The Iranian Auto Parts Exhibition in June 2024")
![The Iranian Auto Parts Exhibition in June 2024]( "The Iranian Auto Parts Exhibition in June 2024")
![The Iranian Auto Parts Exhibition in June 2024]( "The Iranian Auto Parts Exhibition in June 2024")
![The Iranian Auto Parts Exhibition in June 2024]( "The Iranian Auto Parts Exhibition in June 2024")
![The Iranian Auto Parts Exhibition in June 2024]( "The Iranian Auto Parts Exhibition in June 2024")
