Automotive Import Beneficial

An official believes that car import is the only solution for streamlining the current unfavorable condition in the automotive market, as he warned about the consequences of prolonging the import ban.
The previous government imposed a ban on car imports to prevent the outflow of foreign currency made scarce by sanctions and lower oil sales in the fiscal 2018-19. However, the incumbent government has placed the import of 70,000 cars on next year’s agenda to meet its financial needs.
Mehdi Dadfar, secretary of the Automobile Importers Association, also told Donyaye Khodro that the country's car market could be divided into three segments, namely imported cars with the highest quality, Chinese cars and domestic products.
“Prior to the import ban, Chinese SUVs were priced at 900 million rials and 50% of the price were covered by the seller's facility with a 7-9% interest rate,” he said.