Iran considers 100% increase in vehicle import tariffs

The Iranian government is reportedly considering a significant increase in import tariffs for various types of vehicles, with rates potentially reaching a minimum of 100%. This move, driven by the economic team in coordination with the Central Bank, follows previous discussions regarding a total halt on imports due to foreign exchange pressures.

In addition to higher tariffs, there are indications that the customs exchange rate used to calculate import duties may double. The simultaneous implementation of these policies is expected to substantially raise the total cost of importing vehicles, likely leading to higher market prices and reduced consumer purchasing power for imported models.