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EghtesadOnline: The final price of Peugeot 2008 still remains vague as Deputy Minister of Industries, Mining and Trade Mohsen Salehinia dismissed speculations, saying no final price has been “officially” announced yet.

He rejected reports that put the price tag at 1.2 billion rials ($32,000), but did not explain why 600 million rials ($16,000) is being taken from buyers as down payment for the car, local auto website Asre Khodro reported.

According to laws governing auto presale, carmakers should not demand more than 50% of total price as deposit. Thus the $16,000 down payment indicates that the car is probably going to be sold for at least 1.2 billion rials ($32,000). This is while on April 27, the head of IKCO had said that the price for Peugeot 2008 would be 900 million to 1 billion rials ($24,000 to $26,600), depending on the options.

Earlier unconfirmed reports had put the vehicle’s price at around 750 million rials ($20,000), according to Financial Tribune.

The confusion still lingers for buyers of Iran Khodro Company’s joint-venture product with the French giant Peugeot since neither the preliminary pricing nor rollout date has been announced by IKCO officials.

In July 2016, IKCO managing director, Hashem Yekke-Zare said the car would enter Iran’s market in March 2017.

Yekke Zare said IKCO and Peugeot want to increase their joint production of the 2008 model to 200,000 units, although only 4 units of the car were produced by April 2017. 

Now, IKCO has started the presale of Peugeot 2008 causing confusion in the market.

IKCO’s partnership with the French automaker started with the aim of introducing vehicles of high quality into the market and at “lower prices,” in line with the policy to get rid of poor quality cars.

The seemingly creeping price of the 2008 is likely to put off many buyers who had thought the car’s price would be in the same range as mid-ranking Chinese vehicles.

The Peugeot 2008 is a compact SUV that will have to take on tough competition from the likes of the Renault Captur, Kia Soul and Nissan Juke. All of these front-wheel drive cars offer a SUV-like stance, urban-friendly supermini dimensions, and low running and purchase costs.

Mohsen Salehinia Iran Auto Iran auto market Peugeot 2008