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Iran Carmakers Seek Higher Prices as Costs Rise, Shargh Reports

Aug. 2 (Bloomberg) -- Iranian carmakers have requested ministry officials to allow an increase in the prices of locally-produced automobiles, citing higher costs, Shargh reported, without citing anyone.

The issue was raised at a meeting this week of executives in Iran’s automobile industry with the deputy minister of industries, mines and commerce, the Tehran-based newspaper said. Representatives of Iran Khodro and SAIPA, Iran’s two biggest auto producers, were at the meeting, Shargh reported.

The delegation presented reasons behind a recent drop in car production in the country and mentioned “liquidity problems” at the manufacturers and their parts suppliers, the newspaper said, without elaborating. In Iran, prices of locally manufactured cars are regulated by the state.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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