Financial Tribune- After Iran Khodro (IKCO) announced production of the Peugeot 2008 SUV/crossover before the Iranian New Year, several Telegram messenger groups said the price of the car will be in the range of 700 million rials.

In response to these social media rumor mills, IKCO public relations department denied the price of the vehicle was officially released and claimed that it will be announced in the next two weeks, Persian Khodro reported on Monday. Financial Tribune earlier reported that the price for the entry-level 2008 was likely to be 770 million rials (�18,780).

The company did not say when it would announce its final prices for the 2008, but presales of the vehicles, which have already got many buyers interested, will start soon.

According to a local automotive maker, the new line is set to produce an estimated 30,000 units in the current fiscal year that started on March 21. The car�s body is produced locally by one of the subsidiaries of IKCO, called TAM which makes the vehicle meet the bare minimum 30% localization need.