Iran to Increase the Price of Domestic Cars

Iran to Increase the Price of Domestic Cars

Ahmad Nematbakhsh, Representative of Iranian car producers, said Iranian companies are trying to increase their produced cars in order to balance the market.

“Recently the price of foreign made cars have increased in Iran. We must increase the price of domestic cars too in order to balance the current market. Also I believe the creation of a legal mechanism for flotation price car market is essential at the current time.” Ahmad Nematbakhsh said.

He also asked Iran’s government and Central Bank of Iran to allocate cheap foreign currencies to car manufactures. He says local companies need to import raw materials which are important for automotive industry. “Local car producers are suffering from fluctuating exchange rates and its growing process.”

The total cars production rate has been decreased in the new Persian year due to financial sanctions against Iran. The new round of sanctions applied by United States against Iran has restricted Iranian automakers to buy their necessary raw materials from European countries including France. This has raised many problems for both sides.

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