Car Sale Forms 80 Percent of Iran's Total Leasing
“80 percent of leasing companies' working capital is from automotive section, but in the public view, it seems that leasing companies are not working very well in this section.” Said Secretary-General of Iran national leasing association.
KhodroCar – There are 33 official leasing companies working in Iran which are active in different sections like automobile, machinery and etc. meanwhile, the main part of their activity is the automotive section.
However, it seems that people do not trust this kind of companies and they want to buy their products without a middleman. According to the statistics, leasing companies have 60 thousand billion IRRs of working capital annually, which 80 percent of it is related to automotive section.
"Leasing companies did well in the automotive section and 80 percent of working capital in leasing companies is from Automotives.” Said Hadi Mogheei, Secretary-General of Iran national leasing association.
"Peoples trust the leasing companies which have central bank's permit. Other companies are not official and their activity is not clear in addition, they don’t have the central bank permit. Official companies are doing well in the automotive section.” He continued.
"People are investing in automobiles to save their money value. Each time a new model introduced, they are coming to invest.” He added. "While the dollar price is increasing and there are some limits for importing cars, people are looking at auto market as an investment opportunity.”
"There is a good relation between leasing companies and auto industry, but sometimes there are lots of requests for credit shopping then automakers start credit shopping themselves.” Said Moghei. "Any limitation on selling cars will limit the activity of leasing companies. On the other hand, price increment will help credit shopping and requests will increase. By lifting the limitations, more vehicle will import into the country and leasing market would develop.”
"Also, people will intend to shop with credit instead of spending all of their money on a car or else.” He added. " The future of leasing companies is related to the economic conditions. If leasing is a tool to sell products then it should be a product and a producer.”
KhodroCar Reporter: Sepideh Ghazi Nejad
KhodroCar Translator: Amin Zamani
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