Car prices today, Tuesday, October 19, 2023, were announced by trading agencies. Investigations show that the decrease in the exchange rate to 266,000 tomans and the return of gold prices to the 25 million toman range have impacted car pricing trends. However, the extent of this impact has been limited, and today's changes alone cannot be a definitive sign of a continued decrease in prices in the coming days.
The Role of Exchange Rates and Inflation Expectations
The continued decline in exchange rates and adjustments in inflation expectations could gradually exert more downward pressure on the market, especially if the stagnation in transactions and the need for liquidity by some sellers create the conditions for adjusting proposed prices. However, if market participants assess the current decrease in the dollar as temporary, the reaction of car prices will remain limited and varied.
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Today's changes, from the decrease in the price of Sorena Plus and Dena to the increase in the prices of Tara, Quick, Fidelity, and Jack J4, show this multifaceted behavior. This behavior clearly reflects the simultaneous role of the exchange rate, sellers' expectations, and supply and demand conditions in determining car prices.
Developments in the Domestic and Assembled Car Market
The domestic car market today was mostly declining, but the price increase of Tara manual and Quick S showed that the drop in prices did not affect all models. Among the reviewed cars, the Sorena Plus dual-fuel with a large cylinder recorded the most significant price drop; its price today decreased by 55 million tomans compared to yesterday, reaching 2 billion 790 million tomans. Additionally, the price of Dena Plus automatic was reported at 3 billion 850 million tomans in the market.
On the other hand, the price of Peugeot 207 automatic decreased by 30 million tomans and is traded at 3 billion 775 million tomans, while the price of Tara manual increased by 5 million tomans to 2 billion 953 million tomans. Among Saipa products, the price of Quick S increased by 22 million tomans today, reaching 1 billion 650 million tomans. In contrast, the price of Saina S dropped by 5 million tomans in the market, priced at 1 billion 707 million tomans.
The market for assembled cars also had a mixed trend today, with price decreases in some models alongside increases in others. Among the reviewed products, the Tiggo 8 ProMax experienced the most significant price drop. The price of Haima 8S today decreased by 30 million tomans to 7 billion 370 million tomans. Additionally, the price of Tiggo 8 ProMax also fell by 200 million tomans and is traded at 10 billion 200 million tomans in the market.
On the other side of the market, the price of the 7-seater Fidelity Elite increased by 150 million tomans and is now sold for 7 billion 750 million tomans, while the price of the new Jack J4 also rose by 10 million tomans, reaching 3 billion 250 million tomans.
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