February 21, 2019 12:45
News ID: 4411

(Persia Digest) – Sharp price rises in the automotive industry has led to investigations by the Parliamentary Commission on Industry and Mines.

Car prices have been rising sharply in recent weeks and no government organs have stepped in to control this.

From the beginning of April, car prices began to rise at the same time as sharp rises in the forex market. The price of the dollar has now dropped from 18 thousand tomans to 12 thousand tomans, but car prices have been rising in recent weeks. The two large state-owned automotive corporations in Iran – Iran Khodro and Saipa – have always stated that car prices rise based on dollar prices.

Read more:

Reception halls in Tehran stand idle

Rising meat prices close a quarter of Tehran restaurants

Iranians start campaign to fight rising costs

The car industry is in the monopoly of the government in Iran and there is no competition. Buyers must accept any prices set by the government who ordered a price increase last month. Iran Khodro and Saipa have taken steps to sell their goods at even higher prices than those set by the government.

Read more:

How are US sanctions hurting Iranians?

Supreme Leader: Take serious decisions to solve economic problems

Poll: Financial issues top the concerns of Tehranis

“Pride” has the highest sales in Iran as the cheapest car. Its production began in South Korea and, later, Saipa began production in Iran. The first generation was produced from 1986-1993. It is sold by the name of Mazda 121 in Japan and Ford Festiva in North America.

In 2011, Pride was sold at 8MM and 500 thousand tomans in Iran. But by the end of 2018 it cost 48MM tomans. A price never envisaged by any Iranian citizens for this car.

"Pride" has the highest demand in Iran

Click here for more economic news.

Follow us on Twitter

* captcha:
* Comment:
Latest news