Economy, Auto

Mitsubishi Making Inroads in Iranian Market

Mitsubishi Making Inroads in Iranian MarketMitsubishi Making Inroads in Iranian Market

Arian Motors, the official representative of Mitsubishi Motors in Iran, reported that it has been able to sell more cars than the company’s previous year’s total sales.

Kamran Talebifard, the company’s sales Director, told Persian Khodro, a local automotive website, that Arian Motor registered a 2,500% year-on-year growth in its sales during the first five months of the current Iranian year (started March 20).

He said the 2017 Mirage was the biggest contributor to the growth. Talebifard estimated that his company would be able to sell 5,000 units of the car in the next six months.

However, these numbers are in stark contradiction with the statistics reported by Iran’s Ministry of Industries, Mining and Trade.

According to the latest report issued by the ministry, Mitsubishi only has a 2% share of the Iran’s imported cars market and is ranked seventh in terms of the number of cars sold; its ranking is below BMW and South Korean carmaker SsangYong.

Financial Tribune reached out to the company for further information, but the official refused to comment on his previous statement.

Earlier this month, Arian Motors introduced a new sales scheme hoping to increase its market share. The company now sells the Mirage with 12-month installments and is priced at 788 million rials ($22,500) with interest-free monthly payments.

The company is also leasing the car with 16% interest over 24 months.

Customers, who choose to purchase the car with any of the schemes above, will not receive the ownership documents until they have paid all the installments.

Arian Motors currently offers four models, including the Mirage, ASX, Outlander and Lancer.

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