World Business and Economic Analysis
World Business and Economic Analysis
Iran's second largest vehicle manufacturer, SAIPA, has announced a plan that will allow owners of SAIPA cars to swap their secondhand cars and clunkers with newer models, said the company's sales deputy.
According to Reza Taqizadeh, the company will purchase the secondhand cars and inspect their technical and security aspects. Once the faults are eradicated, the vehicles will be resold with a yearlong guaranty, ISNA quoted him as saying. The official noted that 100 sales representatives have been trained for executing this plan and SAIPA will be monitoring the quality inspection and guaranty scheme. The company offers loans with an interest rate of 21%, with the loan ceiling corresponding to half the total worth of the car.
"All SAIPA vehicles are eligible to enter this scheme," Taqizadeh explained.
"Cars, which are under five years, will receive a yearlong guaranty However, there will be limitations for the guaranty issued to cars older than five years."
The conditions differ slightly for swapping clunkers with new cars. Owners of clunkers will be receiving loans with a ceiling of 160 million rials ($4,700 at the free market rate). The interest rate of the loan is 19.5% and customers will have to repay the loan in maximum 48 months.
"To start, the company will be selling the following models: Tiba, Tiba 2 (hatchback), Pride 111, Pride 131, Pride truck and a range of Nissan trucks. In the second phase of the program, sales representatives that have had an acceptable performance in the first step will expand the range of products to include L90 (Dacia-Logan), Pars Tondar, Sandero and Brilliance," he explained.
Passenger cars over 20 and pickup trucks over 15 years are eligible to take part in the scheme. Customers will receive the new cars 30 days after their forms and documents have been completed.
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The 15th international exhibition on paints, coatings, and composites (IPCC 2015) and the 9th international exhibition on bakery (ibex 2015) opened on Sunday at the Tehran Permanent International Fairgrounds.
More than 260 Iranian companies and 110 foreign companies, mainly from the United Arab Emirates, Turkey, China, Germany, France, Italy, Spain, the U.S., Australia, India, Taiwan, Thailand, Brazil, Egypt, South Korea, the Netherlands, Malaysia, Switzerland, Britain, Belgium, Singapore, and Poland, are participating in the exhibition.
IPCC will run until November 9.
Meanwhile, 136 Iranian and foreign companies will attend the ibex 2015, which is scheduled to be held until December 9.
Germany, Turkey, Greece, Italy, Sweden, Switzerland, Finland, the Netherlands, Belarus, Lebanon, and South Korea are some of the countries which will be participating in the four-day event.
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Iranian and Turkish business firms held a one-day conference in Istanbul on Friday to boost their cooperation on trade and investment, said Iran’s Ambassador to Turkey Alireza Bigdeli.
During the conference, Bigdeli discussed Iran economic capacities in 2016, further noting that if the two countries want to meet the target of $30 billion annual trade, their private sectors must raise their trade to $25 billion per annum, Fars News Agency reported on Saturday.
Last year, Iran-Turkey trade volume stood at $14 billion, but the two countries plan to raise it to $30 billion.
Turkey was the 6th biggest importer of Iranian non-oil goods in the first seven months of the current Iranian calendar year (March 21- September 22), according to Iran Customs Administration.
Iran exported $787.335 million of non-oil goods to Turkey and imported $1.835 billion of non-oil goods from the country.
Meanwhile, Turkey was the 6th major importer of Iranian non-oil goods in the past Iranian calendar year, which ended on March 20, with importing $2.158 billion and exporting $3.822 billion of non-oil goods from and to Iran, respectively.
The two countries also maintain close energy ties. Turkey is one of the major customers of Iranian gas and imports 10 billion cubic meters of the product from Iran every year.
According to the EU statistics agency Eurostat, Iran’s exports of crude oil to Turkey rose by 9 percent to 3.339 million tons in the first seven months of 2015.
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