According to Khodrocar report,
since yesterday, annual and long term deposit interest rate decreased to 15
percent and it has been decided that the interest rate of participation would
be 3 percent more. Iran’s central bank promised to drop the facility rate in
six months for automakers if they obey the laws for the new interest rate of
participation.
Decreasing at the facility rate
would drop the product's final price.
It is important to mention that
some automakers are creating an interesting opportunity for customers by increasing
the interest rate of participation to 24 or 27 percent which will increase the
liquidity for them. Now there is a question. Will the car’s final price drop
duo to decreasing of interest rate of participation? What would automakers do
to keep the market appealing?
"Decreasing of the deposit
interest rate and automakers interest rate of participation won’t affect the
car’s final price in short time, because, according to summer break, the market
demand is at the peak.” Amir Hasan Kakaei said to Khodrocar reporter.
"Iranians are familiar with
economic fluctuations” he mentioned. " 3 percent decrease in the deposit
interest rate won’t change the customers' behavior and on the other hand, there
is no alternative market for customers due to coordinate drop of interest
rates. So costumers will buy their essential products anyway.”
The automotive industry expert
said: "in order to feel the decreasing of car’s price, the facility rate should
drop in the long term which will need 18 to 24 months at least.”
"Automakers are purchasing raw material for
the needs of six months or one year and this is the cause of stable price for
that period of time. The final price will decrease after they purchase raw
material for the next time.”
"Money price for automakers is about 30
percent and the 3 percent drop won’t affect them much” he said. "Iranian
automakers are making interests in market due to market and economic condition,
however, banks and leasing are responsible for that in the international
markets.”
"The main responsibility of an
automaker is to increase the quality and variety of models. Right now, there is
a good competitive market for cars which are more than 300 IRRs.”
"Increasing the variety of models
is a little risky for Iranian automakers because it would have a negative effect
on production rate. "Merging automakers is one of the international solutions
in this situation.” Kakaei added.
This automotive industry expert
thinks that decreasing of interest rate of participation will force the automakers
to be careful about quality and have better after sales services. "Automotive
industry will face better conditions in the next couple years.” He said.
Khodrocar Translator: Amin Zamani
