Iranian carmakers boost product prices

Business Materials 8 October 2012 18:07 (UTC +04:00)

Azerbaijan, Baku, Oct. 8/ Trend F.Milad/

Iran Khodro (IKCO) has increased its product prices by 10 percent, while Saipa has boosted prices by 20 percent, Mehr reported.

Both companies have released their latest list of prices on Monday, which shows 1,600 to 4,000 dollars rise for various products, according to Mehr.

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

On September 15, ILNA 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.