Iran Auto Market: Carmakers and Prices on Slippery Slope

With the rial reportedly continuing its rally on Wednesday after weeks of steep decline, auto market insiders are reporting that car prices also are on a downward trajectory. Head of Iran Auto Dealers Association Saeed Motemani told IRNA, “The prices of locally made cars have declined by up to 120 million rials (€800) in the market.” However, the prices are still significantly higher than what the factories charge. Motemani says that the effects are not isolated or limited to locally made cars. “Prices of imported vehicles have also declined sharply, which in some cases amount to 500 million rials (€3,333).”