Toyota Motor Corp. has suspended its automobile exports to Iran for an indefinite period amid mounting international pressure on Tehran over its nuclear program.
The carmaker, which halted shipments in June, especially feared that the continuation of car sales to Iran could hart its business in the U.S. market, given that the United States is spearheading international efforts to slap the islamic republic with further sanctions.
The move might prompt other Japanese companies to rethink their dealings with Iran, economists said.
Meanwhile, South Korea’s Hyundai became the leading import brand (42.6% share) in Iran. Imported vehicles to Iran totaled 41,454 untis in 2009.
