Officials Predict Rise in Prices of Car Spare Parts

The perpetual rise in foreign exchange rates is expected to trigger a 10-20% increase in the prices of all kinds of car spare parts in the market, according to the head of the Tehran Automobile and Machinery Spare Parts Dealers Union.

“Some of the spare parts are produced domestically and some are imported. Since factors such as supply and demand, and the type of parts affect prices, we cannot estimate the exact increase in prices,” Ahmad Hosseini was also quoted as saying by Khabar Khodro.

“But we will definitely see an increase in spare parts prices, following the increase in forex rates,” he added.

The official noted that a price increase in foreign exchange rates does not instantly affect spare parts, but it will eventually impact the market.