Iran's domestic auto price increases

Business Materials 15 November 2021 14:10 (UTC +04:00)

TEHRAN, Iran, Nov.15


Iranian automaker SAIPA is increasing the price of its products by 16 percent to reduce the current intensity in the auto market, said SAIPA Managing Director, Trend reports citing Mehr News Agency.

The Ministry of Industries, Mine, and Trade have approved the increase of prices for SAIPA products to an average of 16 percent, the rise starting from 15 to 17 percent, Javad Soleimani noted.

The plan is to increase auto production and supply by 10 percent before the end of the current Iranian year (started March 21, 2021), reaching 440,000 vehicles that would prevent illegal dealerships and ease the auto market. SAIPA is expected to increase its weekly production to 7,500 vehicles.

Domestic automakers are set to offer vehicles at the Iran Mercantile Exchange (IME) as there is no barrier to selling a limited number of cars via this market.