Economy, Auto

Cars to Cost More in Iran

Authorities are poised to okay calls from domestic carmakers to increase prices in the coming days
Cars to Cost More in Iran
Cars to Cost More in Iran
Prices of cars have skyrocketed since March. For instance, budget vehicles like IKCO’s Peugeot 405 and SAIPA’s Pride now cost 60% more compared to six months earlier

Automakers will soon receive the okay from relevant authorities to increase prices once again, a deputy minister of industries said. Bad news that translates into a simple message for the common man: cars are gradually becoming luxury items most families cannot afford anymore.
In an interview on Sunday, Mohsen Salehinia told Fars, “Car prices will for sure be updated. The amount to be added is being discussed at the Consumer and Producer Protection Organization (CPPO).”
After studying economic issues related to the auto industry, the CPPO will submit a report to another state body, the Market Regulatory Authority, an ad hoc committee created to check the raging inflation and price gauging. “The regulatory authority will announce the new prices.”


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