The head of the Automobile Showrooms and Dealers Union says the lifting of sanctions on the auto industry has reduced the price of imported cars by 60 million rials.

ISNA reports that Hassan Zamani Afshar said: “The recent lifting of sanctions on the car industry and the drop in the exchange rate have resulted in an average drop of 60 million rials in the price of imported cars.”

He indicated that if the current conditions persist, the prices will drop even further.

There has been no reduction in the price of domestic cars, he said, but that could change as the economy strengthens and the national currency makes further gains.