The Iran Mercantile Exchange (IME) has announced new regulations for automakers to sell cars via this market. The two main companies, Iran Khodro and Saipa, are obliged to list a minimum of 2,000 vehicles in every offer.
According to SENA, the limit is 500 units for private car producers.
The measure apparently is to improve the supply side as automakers henceforth cannot offer a limited number of vehicles at the IME. Officials say the move can also help reduce the final price of cars sold at the IME.
The new rules, among other things, say carmakers must submit a list of buyers in the 48 months before each offer so that their names can be eliminated from the list of eligible buyers. Each vehicle can be registered with one Iranian ID number. Those aged 18 and above can buy a car at the IME in a one-off deal.
The IME cautioned manufacturers about delivery dates in that they should ensure timely delivery of vehicles.
Offering vehicles or financial instruments by carmakers is subject to a license from the Ministry of Industry, Mining and Trade license.
Auto sale via the IME was temporarily suspended by the Industries Ministry in late May. It argued that the practice was incompatible with auto market regulatory procedures and added to price volatility. However, in July the ministry backtracked and the High Council of Securities and Exchange agreed to resume the sale of selected brands.
Experts say offering cars in the stock market is a positive move that paves the way for transparency in the market, eliminates avaricious middlemen, reduces the harmful impact of government-imposed pricing and safeguards the interest of consumers, producers and shareholders.
Auto sale via the IME reached 4,080 units in the eight months to November 22, worth 33.61 trillion rials ($64 million).
Peugeot 207s accounted for nearly a quarter of the new vehicles. During the period 742 Fidelity brands manufactured/assembled by Bahman Motor were sold, followed by 731 Haima S7s of Iran Khodro and 594 Dignity brands by Bahman Motor.
Bahman Motors also sold 456 Kara pickups, a popular vehicle in Iran originally produced by the Japanese auto giant Mazda.
Data shows that 200 Lamari Eamas of Arian Pars Motor, 69 KMC T8s by Kerman Motor, 68 JAC S5s by Kerman Motor and 64 Shahins of SAIPA were bought.
Heavy-duty vehicles, FAW and EM Power brands from China assembled by Bahman Motors and Siba Motor in Iran, were welcomed by buyers as 121 Empower puller trucks from Bahman Diesel and 35 FAW trucks by Siba Motor were sold.
