EghtesadOnline: Following a total ban on car imports as per a directive signed on June 20 by the industries minister, vehicle prices have once again hiked in Iran’s market, with many putting their plans to purchase a car on hold.
EghtesadOnline: Iran’s Court of Administrative Justice issued a verdict last week temporarily demanding suspension of the newest government directive which pushed up car tariffs up to 65%. On Monday the minister of industries responded by saying he had not received the court order.
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: The government has passed new rules that require auto importers to scrap 2-8 old cars for each imported unit.
EghtesadOnline: According to the latest customs data 23,266 vehicles were imported into the country in the first four months to July, up 55% y/y.
EghtesadOnline: The Ministry of Industries, Mining and Trade has announced a proposal, the implementation of which is certain to tighten the grip of Iran Khodro and SAIPA, the largest state-controlled automakers, on the domestic market.
EghtesadOnline: The head of Auto and Parts Importers Association has criticized a proposal by the Ministry of Industries, Mining and Trade to restrict car imports to a handful of mostly state-owned automakers.
EghtesadOnline: Allowing import permits to auto manufacturers alone will give them ample space for monopoly to consolidate their position in the auto industry, says head of Iran’s Auto Importers Association, Farhad Ehteshamzad.
EghtesadOnline: More than $2.3 billion worth of vehicles and auto parts were imported in the eleven months of the current fiscal that ends on March 20.