TEHRAN, Iran, Nov. 23
Trend:
The president of Tehran's Auto Dealers and Exhibitors Union announced that the car prices have been declining in recent weeks.
"There is a close relationship between car prices and exchange rates. The foreign exchange rate fell, so did the price of cars,” the president of Tehran's Auto Dealers and Exhibitors Union Saeed Motammeni said, Trend reports citing ISNA.
“In recent weeks, the prices of cars, both domestic and foreign have decreased by 20 to 27 percent. Our forecast is that this price reduction will be continued in the coming weeks,” he reported.
He went on to say that now that prices have fallen, people tend to sell their cars, which has been another factor in reducing prices.
"All capital markets, including gold coins, housing, and cars, are directly dependent on foreign exchange rate fluctuations, and all of these items have been witnessed the price declining in recent days,” he said.
Referring to the Coronavirus restrictions in Iran and the closure of unnecessary markets from today (Saturday), Motameni said that “According to the National Committee on Combating Coronavirus, car exhibitors will also be locked down by imposing restrictions to prevent the spread of the virus.”