Car prices up by 35 percent in Iran

Business Materials 15 September 2012 11:17 (UTC +04:00)

Azerbaijan, Baku, Sep.15/ Trend F.Milad/

Domestic production fall and import limitations as well as dollar price rise have led to a 35 percent average increase in prices of cars in Iran.

The ILNA news agency reported that prices of different cars have grown up by around 35 percent on the average since March 2011.

Supply has decreased but demand is still high, according to the report.

Iran's car output in the first four months of the current calendar year, which began on March 20, fell by 37.4 percent compared to the same period last year.

Iran plans to manufacture at least three million cars by 2025 and export some one million sets, the Fars News Agency quoted Industry, Mine, and Trade Minister Mehdi Ghazanfari as saying on June 16.

"Some 1.6 million cars were manufactured in the past calendar year and 55,000 cars were exported," Ghazanfari said.