SAIPA Automotive Group and Bank Sepah have agreed to forge cooperation between their respective affiliates, SAIPA Yadak and Omid Investment Management Group.
In a joint meeting of the directors of SAIPA and Bank Sepah, the two sides discussed assistance related to easing foreign exchange transactions and financing.
“Since Bank Sepah has investment companies and foreign currency accounts in Russia, Belarus and Venezuela, SAIPA can take advantage of the wide potential and ability of the bank and use its capabilities in the field of foreign exchange to export cars,” SAIPA’s CEO Mohammad Ali Teymouri was quoted as saying by the Persian automotive daily Donyaye Khodro.
“SAIPA plans to export its passenger, commercial and heavy vehicles to Russia, Belarus and Venezuela, for which Bank Sepah can help make foreign exchange transactions,” he added.
Teymouri noted that the automotive group can use the bank’s assistance for importing Changan and Zotye cars.
“It is also possible to use Bank Sepah's financial supply chain, which has more than 300,000 manufacturing and service companies as its members, in the supply chain infrastructure of SAIPA,” he said.
According to SAIPA’s CEO, the company seeks to sell high quality, diverse and optimal cars, so we made full efforts to improve the quality of cars produced by the group last year and defined 240 quality improvement projects.
"Last year, we sold 60 trillion rials [$117.42 million] of car spare parts, the warranty of which was less than 15 trillion rials [$29.35 million]. This indicates that the quality of SAIPA's products is increasing,” he said.
Commenting on payments to auto component makers, Teymouri said, "We don't delay payments for more than 100 days and hope to pay in less than 60 days in the future."
With the start of the second phase of supplying domestic cars based on the new process devised by the Ministry of Industries, Mines and Agriculture (under the supervision of the Consumers and Producers Protection Organization), SAIPA will use the channel of Bank Sepah to implement the second phase.
People having accounts in Bank Sepah could visit the bank’s website until May 18 to deposit the minimum amount of 1 billion rials ($1,957) in Iran’s national online car ordering portal.
SAIPA Imports First Car Shipment
SAIPA Automotive Group has imported its first shipment of cars that will be delivered to customers in the coming weeks.
The domestic automaker imported a total of 1,108 cars produced by Changan Automotive Company, according to the manager of the Car Import Project of the Ministry of Industries, Mining and Trade.
“With the efforts of the Ministry of Industries, Mining and Trade and related organizations, SAIPA imported its first series of imported cars after five years, which have been cleared from the Aprin Customs Office,” Mehdi Zeighami was also quoted as saying by Khabar Khodro.
The official stated that due to the problems caused by the car import laws that were devised before the reimposition of international sanctions, the clearance of imported cars faced many hurdles.
“With the cooperation and support of related organizations, we were finally able to clear the first series of imported cars and this will definitely speed up the import and clearance process of the next series,” he said.
“In the coming days, the final price of imported cars will be announced by the Consumers and Producers Protection Organization and the process of car delivery will begin.”
Zeighami noted that the cars were sold through the national online car registration portal.
He also announced that another batch of 1,500 foreign cars are in the process of receiving customs clearance permits and standard approvals.
“These cars are of Fiat, Zotye, Hyundai, Kia and Mitsubishi brands, which will be released gradually,” he said.
Koroush Kamankesh, the deputy head of the SAIPA Purchase Department, said 1,108 Changan CS35 Plus cars as well as 125 Changan CS55 Plus models will be delivered next month, according to the lottery result and prioritization announced by the Industries Ministry.
“Changan cars entering the country belong to CS15 Plus, CS35 Plus, CS55 Plus, CS75 Plus, UNI-K, UNI-T and Hunter pickup models,” he said.
“By the end of the current [fiscal] year [March 20, 2024, 100,000 Changan cars [CS35 Plus, CS55 Plus and UNI-K models] will enter the country to help regulate the domestic market.”
