Iran Khodro aims to produce 1 million units a year in 2009-10

The Iranian automotive industry will witness a fall in production in 2009-10, as consumer spending declines and the market contracts.

It is believed that production and sales are falling, as the country�s financial system struggles with low liquidity as a result of falling oil revenues and consumers find it increasingly harder to obtain finance, Companiesandmarkets.com wrote.