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Euro Rate Decline Beats Chinese Cars
Economy, Auto

Euro Rate Decline Beats Chinese Cars

The fall in the value of the euro against the Iranian rial from 45,000 to 35,000 during the past 11 months has boosted sales of European cars in the Iranian market. In comparison Japanese, Korean and Chinese cars have stayed at their current prices due to the fixed nature of their currencies versus the Iranian rial, Farid Zaveh, an expert in the auto industry told ISNA on Tuesday. Zaveh suggested that the decrease in the value of the euro is likely to reduce the competitiveness of Chinese cars in the domestic market. "Presently, Chinese cars are currently 10 percent cheaper than their European rivals, while they were previously 40 to 50 percent cheaper," he added. Considering the quality of Chinese cars, in comparison with European ones, they are unlikely to be the winners in the lucrative Iranian auto market, Zaveh predicted.

 

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