Pricey Vehicles, the Newborn of Expensive Currency and Blocked Import Registration Website

Khodrocar – Iran’s economy is closely bonded with the value international currencies especially Dollar and Euro. Euro value has passed the 40000 IRRs long ago and today it was Dollar’s turn to pass the same value border.

Iran’s automotive industry as a subsidiary of the country’s economy is no exception and by the increase in the value of dollar currency the expenses of importing and producing vehicle will increase respectively.

"In Iran’s economy the price is closed connected to value of international currencies especially Euro and Dollar which means that inflation tends to remain and from the major point of view, there are no reduction in prices soon after the swing of dollar value settles.” Said Kamran Nadiri, manager of Islamic Banking Group of Monetary and Banking Research Institute in an interview with Khodrocar journalist.

"Some price shock happened last fall but central bank controlled the swing on currency value. The future depends on central bank’s attitude toward choosing the best rate for the currency and it is predicted that it is not willing that dollar value passes 40000 IRRs and it is seems the central bank is going to halter Dollar value on 3900 IRRs in future days. Central bank is capable of controlling the Dollar value” Added Kamran Nadiri.

"Increase in Dollar value along with the ban of vehicle import registration will cause the final price of the import vehicles to increase.” Said Mohammad Mortezaei, Negin Khodro Marketing Manager, emphasizing on the role of Euro in various companies commercial transactions.

"It is predicted that there shall be some balance in the car market if the import registration website reopens. Yet the decrease in the raised prices would be difficult in current time.” Added Mortezaei.

It seems the increased value of Dollar and its effect on industry and especially automotive industry is going to last for long and the raised prices of automotive products are not going to fall back down in near future.

Khodrocar Translator: Mostafa Anisi