Car prices to go down in Iran with automakers increasing output
Tehran, Iran, Feb. 22
Iran’s minister of industry, mines and trade announced that with two major carmakers working on their commitments and increasing their daily production, car prices will go down and the market will get organized.
“Car production in the country will reach about 2,500 to 3,000 cars per day and the rising trend will continue,” the Minister of Industry, Mines and Trade Reza Rahmani said on Thursday, Trend reports citing IRNA.
He stated less than 1,000 cars per day were produced by automakers, and says that after negotiating with carmakers, this amount has increased to about 1,500 to 2,000 vehicles per day.
“And this process will continue to reach the ideal situation. The car prices will definitely go down.”
Referring to the role of intermediaries in raising the car prices in the country, he says that the regular automotive delivery by automakers will regulate the market.
“With the continuation of the car supply, a reasonable price will be set in the market,” he said.
After a few weeks of relative stability in the chaotic car market, the prices have shot up again reaching unprecedented highs, leaving the people more perplexed than ever.
The cheapest car in the local market, SAIPA’s Pride 131, is being sold for 480 million rials ($3,700). Less than a month ago it was available for 350 million rials ($2,700).
At this time a year ago, this small vehicle changed hands for 223 million rials – up a solid 115 percent.