Home / Auto News / News article: Mahmoud Ahmadinejad's Peugeot 504 Sells For $2.5 Million - AutoGuide.com News
 |  Mar 07 2011, 8:01 PM

Iranian dictator Mahmoud Ahmadinejad sold his 1977 Peugeot 504 at a chairty auction for $2.5 million, according to MSNBC. Ahamdinejad will use the proceeds to fund a low-income housing project meant for families.

“President Ahmadinejad’s Peugeot 504 was sold for 2.5 billion tomans ($2.5 million) to an Iranian who took part in the auction,” ISNA news agency said. According to local media, many of the bids came from America, but the winning bidder, an Iranian, will reportedly house the car in a specially built museum.

Ahmadinejad has rarely used to car since becoming leader of Iran in 2005. The Peugeot 504 would normally sell for about $2,000 on the open market in Iran.

[Source: MSNBC]