Economy, Auto

Saipa Prices to Increase 15%

Saipa Prices  to Increase 15%Saipa Prices  to Increase 15%

Saipa Automotive Group’s CEO has said that to remain competitive his company will increase their prices by 15 percent, ISNA reported. Saeed Madani said that “prices across the board will increase by 15 percent”, as the company attempts to recoup the money spent on its new Chinese model production lines. The CEO added that due to high inflation, salary increases, and the company’s energy costs have contributed to the jump in car prices. He added that prices are “only going to rise incrementally and not leap.” The company head said that they have also submitted the new prices to the Competition Council for approval, with prices not going up before the ombudsman gives the all clear.