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Shares in French automakers PSA Peugeot Citroen and Renault have soared after the landmark nuclear deal between Iran and the P5+1. Shares in Peugeot jumped nearly 4.5 percent while Renault shares rose to above one-percent in afternoon trade on Monday. The nuclear deal signed early Sunday fuels expectations that the two French car makers could quickly re-enter the Iranian market. Iran used to be Peugeot\'s second-biggest market in car sales volumes before Western sanctions against Tehran were toughened. Last year, the car-maker halted sales to Iran to comply with the sanctions, costing it nearly 10 percent of its global vehicle deliveries. Renault announced a nearly 700 million-dollar write-down because of damage to its business in Iran.

Peugeot-Citroen was the worst affected French company when the U-S and its allies imposed sanctions against Iran in 2012. Until then, the car-maker had been sending spare parts to its former partner Iran-Khodro. When it stopped doing so, it entered a period of deep crisis which led to thousands of job cuts in the company. In a country facing record high unemployment, this was a shock. With the new deal between Iran and five permanent members of the U-N Security Council plus Germany, the sanctions on Tehran are eased, bringing a mix of respite and caution to labor unions. Peugeot Citroen\'s share prices rose just a day after the ease on sanctions was announced. Before the sanctions, the company was the biggest player on Iranian roads. Peugeot has recently announced it is hiring a new chairman in 2014. But labor unions are skeptical if Carlos Tavares can really turn around the car-maker\'s fortunes. In the coming days, Tehran will host the first international car makers\' conference on Iranian auto-industry. And that is where French car brands will find out, if they will dominate Iranian roads as they once did.

French auto giants Renault-Nissan and Peugeot-Citro-en are planning to return to Iran\'s market in light of the easing of anti-Iran sanctions. Reports say Renault and Peugeot are gearing to reclaim their share of the huge Iranian market they lost after the implementation of anti-Iran sanctions in 20-11. Both companies are sending representatives to a crucial auto conference in Tehran that opens within hours. Their participation in the conference has been interpreted by the media as a sign to mark their early return to the Iranian market before other competitors. Renault and Peugeot have been production partners of Iran\'s domestic majors - Iran Khodro and SAIPA. Official data show the sanctions against Iran led to the unemployment of 100,000 workers and undermined the output of the two French giants.

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Figures released by the Committee of French Car Makers show that in the past 6 months, the number of new cars sold in the country has dropped by 11 percent compared to last year\'s figures. French brands dominate the country\'s roads. And they are the biggest victims too. Peugeot Citroen has lost 9,5 percent of the market figures and Renault has lost 4 percent in just one month : a clear sign that the French now see cars as less of a necessity. The forecasts for the next six months show the car industry will continue to go suffer in the coming months. New figures now show the French car industry is now in deep trouble. Experts say this will certainly have a great impact on the French economy. This leaves almost no doubt that France is in a recession and may not escape it anytime soon. Anustup Roy, Press TV, Paris

Pierre Mosco-vici said the visit is QUOTE a bet on the future and not about doing business as usual. His comments came in response to the US Secretary of State\'s recent complaint. Only days ago, John Kerry said the French delegation\'s visit to Iran was not helpful in sending the message to Tehran that it\'s not business as usual. His remarks came after a one-hundred- sixteen member French delegation traveled to Iran for commercial opportunities. Among the group are multi-national companies such as Total, Lafarge and Peugeot. The delegation arrived in Tehran less than two weeks after the recent easing of sanctions against Iran.