US pressure on Iran’s key auto industry coupled with domestic faulty policies have pushed up car prices once again, only a few days after the introduction of the government’s new forex policy which saw the market take a break from its months-long bullish run.
Over the past few days, car prices have jumped 6 to 20 million rials ($1,420 to $4,760) reacting to the news that President Hassan Rouhani’s administration might implement “free market reforms” in the auto industry and cut the state-backed Competition Council out of the price-setting process.
The Competition Council is a state body which when it comes to the auto industry is in charge of setting the price of vehicles under 450 million rials ($10,714).
August 15, 2018 17:22
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Iran Auto Market Sees Price Spikes Again
After the introduction of a plan by the Iranian parliament to deregulate the auto market, car prices jumped over 16% in Tehran’s market, further slashing average Iranians’ purchasing power
In the past few days, car prices have jumped 6 to 20 million rials ($1,420 to $4,760) reacting to the news that the administration might implement “free market reforms” in the auto industry and cut the state-backed Competition Council out of the price-set
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