The automotive market is mired in a state of limbo as evidenced by a stagnant market fanned by volatile foreign currency exchange rates and instances of up to 20% hikes in car prices.
Head of Tehran Auto Dealers Association Saeed Motemani says the market has turned highly unpredictable, with no one knowing what tomorrow holds for the industry, reported Asre Khodro.
He said, “Last week when the Competition Council announced it will communicate the new car prices by June 5, costs of vehicles which had experienced a 20 million rials ($476) decrease, took an upward trend and reverted to previous levels.”
The Competition Council, headed by Reza Shiva, is a state body that keeps an eye on a wide range of domestic products and sets prices for some goods including vehicles priced under 450 million rials ($10,700).
The council is set to ratify new car prices in the early days of June after receiving sectoral inflation rated from the Central Bank of Iran.
May 28, 2018 17:03
9
Iran Auto Industry in Disarray
Iran’s auto market has plunged in a state of chaos which has bewildered buyers and robbed veteran business insiders of crucial insight
Distribution of vehicles is hobbled by manufacturers and hubristic dealers, a bottleneck which has led to a yawning gap of 40-130 million rials ($950-3,000) between the list price and market price of vehicles
Comments
akira_kobayashi_7605 - Permalink
akira_kobayashi_7605 - Permalink
afsaneh.khandan_8052 - Permalink
akira_kobayashi_7605 - Permalink
akira_kobayashi_7605 - Permalink
akira_kobayashi_7605 - Permalink
akira_kobayashi_7605 - Permalink
akira_kobayashi_7605 - Permalink
akira_kobayashi_7605 - Permalink
Add new comment