Economy, Business And Markets

Car Import Tariffs Unchanged

Car Import Tariffs UnchangedCar Import Tariffs Unchanged

Car import tariffs in the new Iranian calendar year (started march 21) will remain unchanged, said Abbas Hosseini, an official at the industry ministry. He said just like last year, import tariffs on cars under 2,500 cc displacements would remain 40% while the import of cars with engine displacements of over 2,500 cc will be banned, according to Boursepress. The decision is based on a resolution approved by the cabinet. Meanwhile, French automakers Peugeot and Renault have expressed their satisfaction with the recent nuclear understanding between Iran and the major powers, calling Iran a strategic auto market. The two companies are looking forward to reenter Iran’s market as soon as a final nuclear deal is clinched in summer. Iranian giant automaker Iran Khodro (IKCO) recently signed a €300 million joint venture with Peugeot.