EghtesadOnline: After the public outrage over soaring prices of locally manufactured cars prodded the Iranian Parliament to summon the directors of Iran's largest automotive companies and the deputy minister of industries, during a hearing on Sunday makers and government officials tried to vindicate the latest market developments.

With the announcement of the rise in the factory prices of the two major Iranian automakers, the market prices of domestic products have increased by 10-15%.

EghtesadOnline: Car prices have shot up in the past several months as never before to the extent that for an average Iranian household owning even a used car has become a dream not come true.