Financial Tribune - The cheapest car in the local market, SAIPA’s Pride 131, is being sold for 480 million rials ($3,700). At this time a year ago this small vehicle was easily available for 223 million rials.

After few weeks of relative stability in the chaotic car market, prices have shot up again reaching unprecedented highs leaving the people more perplexed than ever.

The cheapest car in the local market, SAIPA’s Pride 131, is being sold for 480 million rials ($3,700). Less than a month before it was available for 350 million rials ($2,700).

At this time a year ago this small vehicle changed hands for 223 million rials – up a solid 115%.

The price of SAIPA’s other small city car Tiba2 has risen by 22% over the past month, reaching 550 million rials ($4,230) from 450 million rials ($3,460). The same model hardly fetched 290 million rials ($2,230) a year ago — 89.6% YoY jump.