IKCO Will Not Increase Car Prices in Fiscal 2023-24

EghtesadOnline: Mehdi Khatibi, the CEO of IKCO, has announced that the company does not plan to increase the prices of its products in the Iranian New Year (starting March 21).

News ID: ۷۵۲۲۹۵

21 February 2023

The factory prices of Iran Khodro Company’s (IKCO) vehicles will not increase in the Iranian New Year starting March 21, according to the company’s CEO.

“As per the budget bill of 1402 [fiscal 2023-24], all cars must be sold in the commodity exchange. We do not plan to increase the factory prices of our products, but we are looking forward to increase supply in the Iran Mercantile Exchange,” Mehdi Khatibi was also quoted as saying by IRNA.

“We’ll continue to offer cars on IME and believe that in the absence of an optimal solution, offering cars on the commodity exchange is the best option,” he added.

He said command pricing is one of the most important problems plaguing the domestic automobile industry.