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Car Prices in Iran Expected to Go on a Bullish Run

Since last December Iran’s forex market has been in a state of upheaval. In view of the distressing situation, automotive industry insiders are anticipating that car prices will skyrocket in the coming months
Parts makers assert their expenses have risen by 30%.Parts makers assert their expenses have risen by 30%.
Devastated by the rise in the greenback’s exchange rate against the rial, the volatility could translate into a 20% increase in car prices in the coming months

In light of the massive disturbance in Iran's forex market, automotive industry insiders are anticipating that car prices will skyrocket when the Competition Council gives the green light to producers to jack up prices.
Since last December, the market has been in a state of upheaval as the US dollar exchange rate jumped to unprecedented levels several times before the government of President Hassan Rouhani stepped in and unified the rate at 42,000 rials to put an end to the raging market.
As with every year, new prices for vehicles will be updated in the next two months and the public is distraught over a possible surge in prices.

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