Iran halts imports of luxury vehicles

Iran has reduced demand for BMW, Mercedes, Lexus and Porsche due to a dramatic rise in prices, APA reports.

Iranian dealers have stopped imports of luxurious cars. The prices increased by 20% in the last 20%, as a result of reduced foreign currency access.

Iranian President Mahmoud Ahmadinejad limited currency exchange. The price per dollar increased by 65% to 18,900 reals.