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Iran auto trades hit lowest level

Business Materials 8 December 2018 17:53 (UTC +04:00)

Tehran, Iran, Dec. 8

Trend:

Rise of auto prices in Iran has led to drop in vehicle trades to near zero.

“The vehicle trades have reached the lowest point during the current year. The uncertainty about the auto prices affects the market every day,” Trend reports citing ILNA’s interview with Head of Exhibition and Auto Dealers Union Saeed Motameni.

“Some of the low social classes in the country can no longer afford to buy cars. It is an undeniable truth,” he said.

“According to trade laws, if the supply rises and there is no customer, the prices should be cut, but it is different in Iran, since the auto market is exclusive and only two auto makers manage the market,” said Motameni.

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