Gov’t Policy Changes to Further Raise Car Prices

January 14, 2022
finance & economy

T he 10-15% increase in total costs due to the removal of subsidized currency will have a direct impact on the prices of automobiles and related parts, a faculty member of Iran University of Science and Technology said.

“Despite the fact that in the fiscal 2018-19, vehicles were included in the category of goods subject to receiving the subsidized currency as a basic commodity, it did not come into force,” Amir Hassan Kakaei was also quoted as saying by Khabar Khodro.

“For a short period of time, the government’s subsidized currency was allocated to automobile and component producers, but soon it was calculated at the open market rate of 80,000 rials [instead of 42,000 rials per $1]. After that, all currencies received by the automotive and parts industries were based on Nima and Sana forex rates.”

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