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Iran experiencing luxury car boom

longbrained

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High-end brands sell for two to three times more than market price in hardline Islamic republic


Iran experiencing luxury car boom - NY Daily News

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High-end luxury cars are an increasingly common sight on the roads of Tehran


They may hate Western values, but Iranians seem to love Western luxury cars.

Despite a hurting economy and crippling economic sanctions, Iran is reportedly experiencing an unprecedented luxury car boom, with wealthy citizens paying up to $360,000 for high-end vehicles.

"Buyers are paying upfront for these cars, which generally cost two to three times more than abroad," one car salesman in Tehran told AFP on condition of anonymity.

A newspaper citing official customs data, Hafte-Sobh, reported that "some 563 different Porsche models were sold in the last Iranian year (to March 2012)," worth a total $50 million before a hefty 100-percent import tax.

Porsche's goal is to sell 800 of its cars in the Islamic republic this current Iranian year, media said, underlining the inroads the flashy German automaker is making into a niche market previously dominated by the more discreet offerings from rivals BMW and Mercedes-Benz.

Maserati, the growling musclebrand owned by Italy's Fiat, is also looking to get a slice of the action by opening its own Tehran showroom within weeks, reports say.

The ostentatious splurge by Iran's elite starkly contrasts with the straits experienced by ordinary Iranians.

They are confronted with inflation of over 20 percent, an estimated unemployment rate of 12-25 percent, a currency severely weakened in the past four months, and Western economic sanctions imposed to curb Tehran's disputed nuclear programme.

While the wealthy are forking out for supercars costing between $110,000 (for an entry-level Porsche Boxster) to $360,000 (for a Porsche Panamera Turbo or a Maserati GranTurismo), working Iranians are getting by on an average monthly salary of $700.

Iran's automobile market is highly protected against imports, allowing in only 40,000 vehicles last year, despite steadily growing demand mostly met through domestic production of some 1.6 million cars per year.

There are now an estimated 14 million vehicles on Iran's roads, more than double the six million registered in 2005.
 
Sanctions always make make businessmen of Iran even richer!

Foreign cars are insanely expensive in Iran and people like to have them.
 
In our country even a crappy xli-corolla sells for around 15 lac thts more than 15 lac... so who cares....ppl r still buyin it.
 
Nothing new ... there are tons of Iranian businessmen in Dubai who made million by re-routing western products to Iran via Dubai.. and Iranians loving it..
I know one local businessman here who used to send american diapers then after ban on it , he is sending all required material for same and making it in Iran ..
 
A lesson for Pakistan from Iran.

Nothing new ... there are tons of Iranian businessmen in Dubai who made million by re-routing western products to Iran via Dubai.. and Iranians loving it..
I know one local businessman here who used to send american diapers then after ban on it , he is sending all required material for same and making it in Iran ..

So the bans actually improved Iranian industry and indigenious efforts...epic..just epic...We should expand ties with Iranian business tycoons.
 
A lesson for Pakistan from Iran.



So the bans actually improved Iranian industry and indigenious efforts...epic..just epic...We should expand ties with Iranian business tycoons.

That's actually pretty true.
Yesterday, there was a thread about Iran building a sea vessel for Brazil!!!!!!!
I'm happy to see Iran's indigenous industry growing with lighting pace under sanctions.
May i say -Blessings of sanctions. ;)
 
That's actually pretty true.
Yesterday, there was a thread about Iran building a sea vessel for Brazil!!!!!!!
I'm happy to see Iran's indigenous industry growing with lighting pace under sanctions.
May i say -Blessings of sanctions. ;)

It means that they have an enormous RD capacity already and Pakistan should expand education and industry exchange with Iran.

It is funny that we are living in the middle of 4 industrial power houses namely India, Russia, China and Iran and yet our industry is sucking a big brown one day and night.
 
Having an industrial base is one thing, having a proper business environment is another. We got the former down, but the Americans have practically destroyed the latter. We can never become a fully developed country without exports and no matter how much we produce, we won't be able to export them under current conditions.

It's time to make a deal with the Americans and compromise. They cut the sanctions, we will cut 20% enrichment. Knowing IRan, we will quadruple our GDP in 2-3 decades. Fighting the ******* disease that is the United States is easier that way. The isoaltion and revolution helped us become independent; but we've maximized our potential under the current status. From dams to ship building, we got it down. But inefficiency, bad business environment and a practical ban from foreign markets means that further development is unlikely.

Take Irankhodro for example. They're already one of the biggest car manufacturers on the planet, but it takes them FOREVER to procure funds for new factories. The competition can get funds in a matter of weeks from any bank on the planet, whereas IK would have to wait and wait until funds are cleared up so that the Iranian govt can give em a lone. That could take 1 day or 3 years. Once a factory is brought online, the model it was made to produce will already be old. And what about exports? IK would be limited to Venezuela, surrounding Arab countries (syria, Iraq and Egypt), limited exports to Turkey, Russia and Belarus. The biggest markets are out of reach.
 
:woot: You must be joking!

In Pakistan motor bikes are more cheaper than bicycles!


BTW.. In Pakistan, which car is best value for the money.
A honda civic sells for more than 20-22 lacs... a stupid diahatus cuore 800cc more than 8 lac,a stupid mehran for more than 6 lac.... a corolla gli with power windows,etc for 16+,xli with no power windows for 15+,a toyota altis for more than 19-20 lac, a loaded toyotaa vigo pick for more than 37 lac,a prado for more than 60lac.... and so on...
 
That's actually pretty true.
Yesterday, there was a thread about Iran building a sea vessel for Brazil!!!!!!!
I'm happy to see Iran's indigenous industry growing with lighting pace under sanctions.
May i say -Blessings of sanctions. ;)
I think you're talking about the Aframax oil tanker. It's for Venezuela though.

It's being built by the Iran Marine Industrial Company (Sadra).
 
Having an industrial base is one thing, having a proper business environment is another. We got the former down, but the Americans have practically destroyed the latter. We can never become a fully developed country without exports and no matter how much we produce, we won't be able to export them.

It's time to make a deal with the Americans and compromise. They cut the sanctions, we will cut 20% enrichment. Knowing IRan, we will quadruple our GDP in 2-3 decades. Fighting the ******* desease that is the United States is easier that way. The isoaltion and revolution helped us become independent; but we've maximized our potential under the current status. From dams to ship building, we got it down. But inefficiency, bad business environment and a practical ban from foreign markets means that further development is unlikely.

Take Irankhodro for example. They're already one of the biggest car manufacturers on the planet, but it takes them FOREVER to procure funds for new factories. The competition can get funds in a matter of weeks from any bank on the planet, whereas IK would have to wait and wait until funds are cleared up so that the Iranian govt can give em a lone. That could take 1 day or 3 years.

That bunch of anti-american and anti-israel blabber your ayatollahs spew out day and night makes literraly no sense at all. Time to strike a deal with the great satan and realize you cant be another Pakistan who was able to have its cake and eat it too by hiding behind India and Afghanistan when it comes to nuclear weapons and technology.
 
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