Title: International Diplomacy and Currency Stability Calm Iran’s Automotive Market
Tehran – A recent cooling of Iran’s automotive market, following a depreciation of foreign currency, is being partly attributed to positive diplomatic developments on the international stage. The market’s relative stabilization comes after the announcement of vehicle prices for Sunday, September 14th.
Diplomatic Progress Reflects on Domestic Economy
Market analysts report that a key factor behind the subsiding turbulence is the recent constructive agreement between Iran and the International Atomic Energy Agency (IAEA). This positive engagement is seen to have bolstered economic confidence, indirectly influencing currency rates and, consequently, the automotive sector. The market is currently being shaped by three primary factors: fluctuations in the foreign exchange rate, supply limitations from domestic manufacturers, and varying levels of demand for different models.
Price Adjustments for Domestic Models
Price changes on Sunday were mixed, reflecting the complex interplay of supply and demand. Leading the adjustments for domestic vehicles was the Peugeot 207 Automatic Panorama, which saw a decrease of 10 million tomans, bringing its market rate to 1.18 billion tomans. The Tara Automatic V4 followed, experiencing a 7 million toman drop to a new price of 1.243 billion tomans.
In contrast, the Iran Khodro Reera defied the general trend by increasing in value by 10 million tomans, reaching a price point of 1.738 billion tomans. The Shahin Automatic Plus also saw a significant reduction, dropping 8 million tomans to 1.3 billion tomans. Meanwhile, the Quick GXR with steel rims registered a 4 million toman increase, now trading at 556 million tomans.
Shifts in Assembled Vehicle Segment
The assembled vehicle market witnessed more pronounced adjustments. The Chinese crossover, Locano L8, recorded the most significant change of the day, dropping 40 million tomans to a new price of 4.18 billion tomans.
Products from Kerman Motor saw more limited fluctuations. The KMC X5 experienced a 12 million toman decrease, settling at 2.06 billion tomans, while the KMC J7 saw a modest 3 million toman increase to 2.103 billion tomans.
Bahman Motor products trended downward in the open market. The G9 Pickup decreased by 20 million tomans to 2.84 billion tomans, and the Fidelity Elite (7-seater) also dropped 20 million tomans to a new price of 2.43 billion tomans.
The market for products from Managers Auto displayed contradictory fluctuations. The Tigo 7 ProMax 4WD dropped 30 million tomans to 3.04 billion tomans. Conversely, the Extreme SX saw a 20 million toman increase, with advertisements listing it at 3.19 billion tomans on online sales platforms.