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EghtesadOnline: Iran Khodro (IKCO) and PSA Group's new joint venture IKAP will reportedly sell Peugeot's 2008 crossover for 900 million rials ($24,000), the local automotive website Persian Khodro said without citing a source.

The newly-announced price is 200 million over and above what was originally said prior to the new Iranian new year holidays in March.

According to previous IKCO reports, the new vehicle will come with different levels of trim including a more expensive one which will come with full options.

Last week Hashem Yekkehzare CEO of Iran Khodro said, "We began production of the Peugeot 2008 prior to the New Year holidays and we are ready to bring it to the market." He added the car will be ready for delivery in May, according to Financial Tribune.

The model 2008 is a compact SUV that will apparently face tough competition from other models,  namely  the Renault Captur, Kia's Soul and Nissan Juke. All of these front-wheel-drive cars offer an SUV-like stance, urban-appropriate supermini dimensions and low running and purchase costs.

Peugeot Iran Khodro Iran Auto Iran auto market PSA Group Iran autom Iran peugeot Peugeot 2008