Iran Auto Companies Not Raising Prices

Reporting "Asre Khodro", Prices for several locally produced cars were expected to increase in line with the annual inflation rates. But according to the latest figures published by the website, all local car companies will stay put with prices with only "a minor increase in some cases."

The new pricing regime announced by the local companies seems to not burden car buyers at the start of the year (March 21), as had been anticipated.

Low-price models such as the SAIPA Tiba are now priced at 250 million rials for the sedan variant, whereas the previous list price for the vehicle before the Norouz holiday season was 248 million rials.

Other low-cost models which continue to sell well in the local market include the SAIPA 111 SE Pride which previously sold for 215 million rials. The new list price for this model according is 216 million.

Meanwhile, Iran Khodro's best selling sedan, Dena, now retails for 425 million rials, unchanged on the pre-New Year price tag.

Another vehicle produced by the national car company is Peugeot Pars, which according to the new price charts now costs 374 million rials. In early March it was selling for 369 million rials according to local pricing website Iran Jib.

Meanwhile, privately-owned Kerman Motor's locally produced JAC S5 is 85 million rials, which is 15 million rials more than last year.

Farbod Zaveh, an auto industry expert, told the automotive website Asre Khodro earlier this week that  the new Iranian Year will not see a radical shift in car prices in the saturated auto market.

Zaveh, CEO of West Click, an automotive technology company, said that with the increased competition of foreign firms [Chinese and French] in the local market, the average prices will not increase like in previous years.

"With investment by the likes of France's Renault, domestic car buyers now have more choice to buy from several companies."

Source:  financialtribune.com