DaimlerChrysler is to hand over its entire shareholding in its Iranian business to partner Iran Khodro.

According to reports from the Iranian ISNA agency, DC’s management has come under considerable pressure from Chrysler staff, as investments in the Islamic Republic are seen as an increasingly bad thing within the US. Sources within DC have indicated to CM that the main concern is one of US consumer perception, but it would seem unlikely that the Bush administration’s relentless pursuit of sanctions against Iran has passed the German-American NYSE-listed OEM by.