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Nuclear deal could make Iran next big car market

Iran is a huge and hugely appealing target for Western firms - it's population is nearly the size of Germany's, it is well educated and includes a substantial middle class, and there is a built-in industrial capability. Because of the sanctions that have been in place for nearly five years now over its nuclear program, however, its citizens and domestic industry haven't been able to purchase and expand, so investment opportunities are not only manifold, they are severely undervalued. Most of the auto industry has been sitting on the sidelines waiting for the Iranian game to start. A report in Automotive News says that Iran's two automakers, Iran Khodro and SAIPA - Societe Anonyme Iranienne de Production Automobile - produced one million light vehicles last year for 77.5 million people. According to Wikipedia there were 200 vehicles per 1,000 citizens in 2012, and that was before the industry took a nosedive. That number puts it between Uruguay and Jamaica. Chery, Kia, Peugeot, and Renault were the carmakers with major operations in-country before all but Chery pulled out. In the vacuum, Chery and other Chinese automakers have thrown lots of product at the market, getting 27 models in a range of segments built or supplied there, with results that are probably best described as ambivalent among observers but financially lucrative for the Chinese. Peugeot has re-established ties, and Kia, Mercedes-Benz, Peugeot, Renault, Toyota, and Volkswagen were attendees at the Iran Auto Show last November. The domestic companies say that this time they want local investment that includes technology transfer, so the Western carmakers that do decide to get in will find tougher negotiators than before. Peugeot, for instance, had a 51-49 partnership with Iran Khodro before pulling out; the new agreement is a 50-50 venture. As a 'gift' to the world for a final deal that encourages global investment, Bloomberg says that the price of crude would go down by $15 per barrel. News Source: Automotive News - sub. req.Image Credit: Atta Kenare/AFP/Getty Images Earnings/Financials Government/Legal Kia Peugeot Renault iran sanctions khodro

Former Lamborghini designer reportedly headed to Hyundai

Luc Donckerwolke (pictured above) only left his position as the Director of Design for Bentley in early June, but he might have already had a new gig lined up as he was walking out the door. Donckerwolke is reportedly teaming up with former Volkswagen Group styling bigwig Peter Schreyer at Hyundai Motor, in a position to eventually take over the look of all of the Korean brands' vehicles. At the moment, this major hire for Hyundai and Kia is still just a rumor, though, and the Korean automaker is playing it close to the vest. Company spokesperson Jim Trainor tells Autoblog, "We do not comment on speculation concerning potential appointments." However, insiders tell Automotive News that the deal is the reason for Donckerwolke walking away from his long career among VW's brands. In Korea, Donckerwolke would hold a position under Schreyer at first, and he would take over Hyundai and Kia's design duties when Schreyer retires, which is expected in about two years. Donckerwolke joined the German automotive giant in 1992 and eventually came to define the modern look of Lamborghini by penning both the Murcielago and Gallardo. In 2011, he became the Head of Advanced Design for VW Group and took over styling duties at Bentley in 2012. Schreyer left a fruitful career at VW Group, including penning the original Audi TT, to join Kia in 2006. He gained the overall design duties for the Hyundai and Kia brands in 2012. Ousted VW Chairman Ferdinand Piech once said that he was regretful of losing the talented stylist. Related Video:

Kia pushes back production GT to 2017

A production version of the 2011 Kia GT concept has been delayed a year until 2017, according to a report from Auto Express. Insiders tell the website that the still-unnamed vehicle's styling already has the blessing of design boss Peter Schreyer, and the four-door's shape is similar to the concept, minus the suicide doors. The production version might share a rear-wheel drive platform with the Hyundai Genesis and could include four- and six-cylinder options, plus a V8 at the top of the range. Previous reports suggested that the model would be aimed primarily at the US market with upscale targets like the Audi A7 and Porsche Panamera. Another rear-drive concept from Kia might also actually see the road, because the company is again considering building the GT4 Stinger. "We have very high intentions to put these models into production – we're working on it," Spencer Cho, the South Korean brand's head of overseas marketing, said to Auto Express. No firm plans are in place yet, but if it gets the thumbs up, the sports coupe could come a year or two after the GT. Earlier information indicated that that the two-door was out of favor at the company because sedans offered a rosier sales prognosis. Related Video: