In light of recent developments in the forex market coupled with mounting pressure by carmakers, the authority in charge of regulating the auto market in a rare move has announced that it is poised to sanction another round of price increases.
Head of the Competition Council Reza Shiva announced this week that they could permit a rise in car prices for the second time this year to compensate for the raging inflation that has grappled the country in recent months, Tasnim News Agency reported.
The Competition Council is a state body which when it comes to the auto industry is in charge of setting the price of vehicles under 450 million rials ($4,760).
August 25, 2018 17:17
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Iranian Authorities Mulling Uncustomary Second Annual Vehicle Price Hike
Yielding to mounting pressure from car manufacturers and auto parts makers, Iranian authorities are set to green-light another car price increase to compensate for the galloping inflation in recent months
While industry insiders are not unanimous on how much the prices will increase, everyone is confident that the prices have nowhere to go but up
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