Iranian-made car ‘Quick’

Iran Auto Market: Another price hike in the offing

Financial Tribune – Market observers are anticipating a new round of car price jumps in the coming days as the auto market adjusts to the most recent increase in the USD rate against the rial currency.

The USD rate in the free market stood at 144,000 rials on Saturday morning, up 3.94 % from 138,530 last Saturday, sparking speculations that cars will also see another price surge in the following days.

According to an article published by the Persian economic daily Donya-e-Eqtesad, while the value of imported vehicles that has hit a ceiling is no longer affected by the volatility in the foreign currency market, locally-made cars have not yet settled at a steady rate due to the economic headwinds the country is facing.