Iranian Carmakers Stand Accused of Hoarding, Insider Trading

Taken for a Ride Taken for a Ride

Following the strange and extended delays in delivery of thousands of vehicles presold by domestic carmakers, would-be buyers and sections of the print media are openly accusing the state-affiliated companies of hoarding, market manipulation, and insider trading.
As is customary, the upstart local car companies Iran Khodro and SAIPA have offered thousands of vehicles in big presale schemes. The cars were to be delivered months ago, but automakers claim that the US sanctions have hampered their activities and disrupted deliveries.
However, the Persian-language economic daily Donya-e-Eqtesad, on Dec. 29 printed a rare critical piece “Behind the Scenes in the Chaotic Auto Market”. Financial Tribune’s sister publication took the top carmakers to task for hoarding and insider trading and flouting recognized rules.


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