Tehran, Iran, Sept.24
Trend:
Iran's auto market is moving toward a price cut due to recent changes and fall of demand despite the oversupply, said the head of Auto Dealers Association.
Saeed Motameni discussed the causes of auto price drop in recent months in an interview with Trend.
"Several changes occurred during in last Iranian year [started March 21, 2018] that caused the auto price fall in the market thus, preventing dealers from increase of the prices," he said.
"Of course, the new management at Iran Khodro can have a new outlook toward prices and auto sale, and solve the problems in auto market, as those who caused the problems are currently on trial. These are the individuals who purchased vehicles from auto factories in mass and decided to increase auto price in the market, but they were stopped," he added.
"The price of Pride was 380 million rial (around$9,047) in January, and currently the model is being sold at 460 million rial (around $10,952). While the USD rate has also dropped, we still face the issue of auto price in the market," he said.
The official noted that the auto prices continues to drop slightly.
"The market demand has declined, so the prices will further decrease," he added.