Iran Khodro has launched the presale of the automatic Peugeot 207i sedan.
The presale started via IKCO’s website at 11 a.m. local time on Sunday.
The company has promised to deliver the vehicles, whose down payment has been set at 270 million rials ($5,700), between May and September.
The registration reached full capacity within 10 minutes for the May delivery and within an hour for June. It merits mention that IKCO has invariably failed to deliver presold cars on time and there's no guarantee Peugeot 207 would be an exemption.
After registering on the IKCO website and making the down payment, customers receive a presale receipt.
Market observers are of the opinion that the presold vehicles have not been purchased by ordinary customers and, as customary with car presales in Iran, but by middlemen.
The presale receipts are now traded on the market for 320 million rials ($6,700), already granting the avaricious dealers a 16% profit.
According to the Competition Council, the presale was initiated without specifying the final price, which is in violation of the law. The council is a state body that seemingly keeps an eye on many domestic products, including cars.
Observers estimate the final price of the 207i to be around 550 million rials ($11,600).
A similar scenario occurred about two weeks ago when Pars Khodro sold 7,500 Renault Sandero Stepway in 2.5 hours. The vehicles became immediately available in the market with a 20% difference in price from that of the official website.
Peugeot 207i sedan with automatic transmission is manufactured on the same platform as the 207i and 206 hatchbacks.
The sedan has a 1.6 liter TU5 turbocharged engine producing 105 horsepower and is equipped with a 4-speed automatic transmission.
The car was first unveiled during the Fifth Iran Automotive Industry International Conference at Tehran's Milad Tower in February.
