EghtesadOnline: A new wave of higher car prices has arrived; pushing decent rides further out of average Iranians' reach and helping avaricious dealers make another quick buck at the expense of customers. This is while some public figures have rushed in to calm down the market saying that nothing is out of the ordinary.
EghtesadOnline: Owning a 3.4% share of Iran’s auto market, the country’s second-largest private automotive company Kerman Khodro has acquired the required permits for launching an initial public offering on Iran Fara Bourse.
EghtesadOnline: Given the recent fluctuations in the auto market as the US prepares to reimpose sanctions against Iran, various executive entities in the country have outlined plans to undo a portion of the harm already done to the sector.
EghtesadOnline: Iran's auto market was last month watched in astonishment by jittery customers and bewildered citizens in the face of skyrocketing prices. In order to redress the volatile situation and put in check the spiraling uptrend which had driven car prices to unprecedented highs, the country's two largest carmakers launched extensive sales of vehicles in the past few days.
EghtesadOnline: Rigan Khodro has imported a prototype of Tiger pickup trucks produced by the Chinese Jiangling Motors Corporation, as it is weighing the introduction of the model to the Iranian auto market.
EghtesadOnline: While banking hurdles and a volatile forex market have hindered PSA Group’s operations in Iran, the French company’s executive vice president for Africa-Middle East says it is expanding its presence in the country and has signed agreements with 76 local parts makers.
EghtesadOnline: The Fifth Iran Automotive Industry International Conference opened Tuesday at the iconic Milad Tower in north Tehran. Managing directors from French automotive companies PSA Group and Renault were in attendance, the IAIIC website reported.
EghtesadOnline: The Court of Administrative Justice has issued an order suspending the Rouhani administration’s latest amendments to auto import rules that have created chaos in the market and pushed up prices. As per the court ruling, import tariffs on vehicles should be rolled back to before the Dec. 30 amendment.
EghtesadOnline: Using insider information and the benefits of cronyism, some auto importers have made fortunes from the volatile import rules and the chaotic market over the past two years. To address the matter lawmakers on Monday passed a bill to impose a 60% tax on organizations and companies that benefitted from the windfall.
EghtesadOnline: While the online auto import registration system was restored a week ago and the Trade Promotion Organization is of the opinion that car prices will decline, the Head of Iran Auto Importers Association believes otherwise.