EghtesadOnline: The government will lend money to two local auto companies, Iran Khodro and SAIPA, to the tune of 40 trillion rials ($333 million). The bailout is for paying part of the carmakers’ mounting debt to local parts makers.
EghtesadOnline: After carmaker Iran Khodro jacked up prices twice over the past few weeks, its archrival SAIPA apparently did not waste precious time! The second biggest carmaker raised the price of three models from 24 to 80% over the weekend.
EghtesadOnline: Iran Khodro on Sunday published a new price list for five models including the popular hatchback model Peugeot 207i and the locally-designed Dena+, jacking up prices by a hefty 50% for four models and reducing the price of one car by 5%.
EghtesadOnline: Iran Khodro increased factory prices of three models at the weekend including vehicles based on Peugeot 405 and Renault Logan.
EghtesadOnline: Iran Khodro and SAIPA are planning to expand their overseas operations. SAIPA is poised to increase production in Syria and IKCO has started manufacturing its Samand model in neighboring Azerbaijan.
EghtesadOnline: Hard-pressed auto manufacturing industry already under mounting pressure for its poor quality and high prices should prepare for a new challenge in the coming weeks. The state is due to raise the bar and announce a new set of automotive standards. Form what is known, most vehicles made by the two major car companies Iran Khodro and SAIPA will not be able to comply with the new norm.
EghtesadOnline: Major carmakers Iran Khodro and SAIPA have seen their debt tally with parts makers, banks and financiers build up in the past few months amassing a debt of 200 trillion rials ($1.37 billion), said the secretary of the Specialized Manufactures of Auto Part Association.
EghtesadOnline: Major local carmaker Iran Khodro has introduced a special presale scheme, which started on Monday and runs until Aug 30.
EghtesadOnline: Extending apologies for the prolonged delay in the delivery of presold units of the SUV model Peugeot 2008, Iran Khodro, the local partner of the French automotive company, has announced that all presold cars will be delivered in due course. The vehicles were to be made through collaborations between PSA Groups Peugeot brand and IKCO through a joint venture named IKAP.
EghtesadOnline: Since the beginning of the current fiscal that started in March, Iran’s largest auto manufacturer, Iran Khodro has sold and presold 274,000 cars.