Economy, Auto

IKCO Plans to Bring Peugeot 508

IKCO Plans to Bring Peugeot 508IKCO Plans to Bring Peugeot 508

Iran Khodro Company, the largest domestic auto manufacturing firm, has announced that it has plans to bring in Peugeot 508.

The announcement was made on the sidelines of the 20th edition of Tabriz Automobile Industry and Spare Parts Trade Fair held in the Iranian province of East Azarbaijan, which ended on October 1.

The car was part of IKCO’s large stand on the day with its name 508 written in Persian script, hinting at a possible local sale of the car.

Mostafa Khankarami, the company’s sales and marketing deputy, said IKCO plans to import a number of Peugeot 508s to test the market, Asre Iran reported.  He did not specify how many of the vehicles would be brought in as part of an initial batch.  

First unveiled in 2010 at Paris Auto Show, the 508 is a family sedan that competes with models such as the Hyundai Sonata and Toyota Camry.

The 508 is produced in China, Malaysia and France. Other models are also available, including a station wagon–highly unlikely to make to Iran–and a 4x4 version sold in the European market.

IKCO has not yet released any details on the price yet but it is expected to be above 1.3 billion rials ($37,000) considering the prices of similar French cars in the market.

Only last week Renault introduced its Talisman model in the Iranian capital to great fanfare. The luxury sedan aims to target the corporate sector. Iran’s luxury market for vehicles is growing by the month with dozens of large sedans entering the fray.

Peugeot’s offer of the 508 is likely to test the local market’s responses.

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