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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.

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.

The French finance minister says his country will have significant commercial opportunities in Iran. Pierre Moscovici made the comments as a French business delegation visits the Iranian capital. Moscovici says any possible deal could be sealed only if nuclear talks between Iran and the five permanent members of the U-N Security Council plus Germany succeed and the sanctions are lifted. Meanwhile, French carmaker, Renault has resumed shipments of parts for vehicle production to Iran. Renault\'s return to Iran comes as the lifting of sanctions against Tehran begins to take effect.

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