EghtesadOnline: The joint venture between Iran’s biggest domestic automaker Iran Khodro and France’s Peugeot, IKAP, has launched a three-day sale of Peugeot 508 over the weekend, according to Iran Khodro’s dealerships.
IKAP has restricted the initial offer by only giving three units to each dealer due to the limited number of available 508s, the local auto website, Khodro Bank, reported.
The car, currently priced at $28,500 in the international market, is offered by IKAP for 1.79 billion rials ($48,000).
However, previous reports disclosed that the car would be sold first under its sports variant called the GT line, which claims to offer a better level of comfort and sportier features; so the market should wait for the domestically produced units, Financial Tribune reported.
The 508 is a family sedan that replaced both the medium-sized 407 and larger 607, and can compete with models such as the Hyundai Sonata, Toyota Camry and Kia Optima, which are available in the Iranian market.
According to the catalogue published by the 50-50 joint venture, the French car comes with a 1.6-liter, 163 horsepower, four-cylinder turbo engine and the output is managed by a six-speed automatic transmission.