BMWs Languishing at Iran Dealers as Sanctions Boost Costs: Cars

Mostafa Farahmand, who oversees sales at a car dealer in Tehran, hasn’t replenished his stock of Porsche, BMW and Mercedes-Benz models for months because neither he nor his customers can pay for them.

Demand for European and Asian cars has plunged as sanctions imposed by the U.S. and the European Union on Iran restrict access to foreign currency, making the vehicles hard to come by and raising prices beyond the means of most Iranians.