TEHRAN, Iran, August 15. The auto sales at the Iran Mercantile Exchange (IME) are to start on August 17, the Senior Supervisor at Iran Mercantile Exchange Hamidreza Rahmani told Trend.
The first auto sales at the Iran Mercantile Exchange will start with Bahman Motor Group on August 17 and would continue in six offerings to sell 600 cars including dignity and fidelity models, he said.
Buyers should receive a commodity exchange code from a licensed broker to purchase cars via the mercantile exchange, Rahmani added.
It is compulsory that buyers already have 30 percent of the car's basic price in their accounts and any individual is only allowed to place an order for one car. The buyer requires to pay for the car's document, tax, and plate number after the sale, he noted.
Referring to the purchase process, he indicated that after placing an order, buyers would compete according to the basic price and be required to pay the value-added tax (VAT) based on the trading's final price.
Iran Mercantile Exchange is pursuing to offer cars from other automakers that are interested to sell products.
The High Council of Securities and Exchange has decided to resume selling cars via the Iran Mercantile Exchange after the Industries Ministry suspended auto sales last month saying the mercantile exchange is incompatible with rules designed to regulate the chaotic auto market.