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 |  Apr 17 2012, 2:45 PM

Last Friday, Porsche became the latest global automaker to end business in Iran as strong political tensions and the threat of nuclear capability build in the country.

Two U.S.-based advocacy groups, The Iran Watch List and United Against a Nuclear Iran, launched a campaign against the Tehran regime in Iran when they found that the Iranian auto industry, the 13th largest in the world, is overrun by both members of the Iranian regime and the Islamic Revolutionary Guard Corps.

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 |  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]

 |  Jan 04 2011, 10:26 PM

Looking for a used car with an interesting previous owner? Have we got the car for you. No we aren’t talking about a DeTomaso Pantera owned by Elvis Presley or a MG SV-R owned by Rowan Atkinson, but instead about the current Iranian President Mahmoud Ahmadinajad, who is selling his 1977 Peugeot 504.

The outspoken Iranian leader however is not selling his car to help pay his personal bills, he is auctioning the car through Iran’s Central Bank to help build housing for the poor and disabled. (What a nice guy, hungh?)

The bidding war started back in November, but will remain open throughout the month of January. The highest bid so far is from an anonymous buyer, who has bid $1-million for it. That is rather steep for a car that would normally fetch around $2,000 at best.

[Source: NY Times]

 |  Nov 23 2010, 2:29 PM

Iranian President Mahmoud Ahmadinejad is set to auction off his 1977 Peugeot 504 to help raise funds for a new low-income housing project.

A statement released by the Iranian government said that, “In order to help the Mehr housing project, as an act of charity yesterday (Sunday) Mr Ahmadinejad put his car up for sale.”

Ahamdenijad is known for his image as a common man and friend of Iran’s poor, but most famous for his frequent homophobic and anti-semitic tirades in front of world leaders.

Peugeots have been locally built in Iran for a number of years, and the brand enjoys strong sales throughout the Middle East.

[Source: AFP]

 |  Aug 11 2010, 12:34 PM

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Toyota has indefinitely suspended exporting vehicles to Iran as a new sanctions campaign aimed at crippling the country’s nuclear weapons program is implemented.

While Iranian sales have fallen over the past two years, but the United States remains Toyota’s biggest market. Firms that have dealings with Iran have come under scrutiny in America.

Toyota said it would “continue to closely monitor the international situation”.

[Source: BBC]