• A parliamentary meeting to take stock of the auto industry was held on May 20.

    After the public outrage over soaring prices of locally manufactured cars prodded the Iranian Parliament to summon the directors of Iran's largest automotive companies and the deputy minister of industries, during a hearing on Sunday makers and government officials tried to vindicate the latest market developments.
    Car manufacturers and auto part makers defended the soaring prices of vehicles during the session held on Sunday afternoon.
    Iran Khodro and SAIPA, the country's largest carmakers, attributed the spike in auto prices to the fluctuations in the foreign exchange market and the rising inflation rate. Suppliers blamed the increase in the price of raw material, reported IRIB News.
    Lawmakers say forex fluctuations and inflation are two separate issues and the impact of each on the prices needs to be investigated. 


Read the latest news about Iran’s automotive industry, market trends, output figures, & import data, along with updates about Iran Khodro, Saipa and Pars Khodro