The import of luxury cars has become a challenge between the Ministry of Industry, Mine and Trade and the Central Bank, raising concerns about the currency impacts of these transactions. While the government's resolution for the import of passenger cars by Iranians residing abroad is valid, the Central Bank warns about the effects of these imports on the currency market and capital outflow.
Conditions for Import and Currency Provision
According to the executive regulations of the 2026 budget law, Iranians residing abroad who have residency cards can import one passenger car per person from their available currency. These regulations are valid until the end of the current year, and the Trade Development Organization has emphasized the continuation of this path. However, the Central Bank is skeptical about the implementation of this resolution and insists that the full impact of this financial flow on the country's economy must be considered.
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Mehdi Darabi, the currency assistant to the Central Bank Governor, has stated that importing cars is not currently among the priorities for currency provision. He emphasized that the inclusion of a commodity in the import pathway does not mean allocating currency resources to it.
Financial Impacts of Luxury Car Transactions
Meanwhile, the Ministry of Industry argues that car imports are not conducted from the currency allocated by the Central Bank and that the use of individuals' currency is possible with verified sources. Ezzatollah Zarei, the spokesman for the Ministry of Industry, also noted that the validity of the Cabinet resolution remains until the end of the year and cannot be revoked by a mere correspondence.
The prices of some models of Mercedes, BMW, and Lexus in the Iranian market have reached several tens of billions of tomans, indicating the financial significance of these imports. The entry of a high-value car can turn into a transaction with considerable financial turnover. Meanwhile, reports have emerged about the formation of a market for buying and selling residency cards to utilize the import capacity for Iranians abroad.
Ultimately, the decisive point in this case is not merely the revocation or strict implementation of a resolution, but rather defining the boundary between the right to import with individuals' currency and the requirements of the country's currency policy. This boundary must clarify the status of cars currently in customs and prevent a legal capacity from becoming a pathway for new demand in the currency market.
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