In response to international sanctions imposed on Iran, Porsche announced it’s pulling out of the market, halting all operations until further notice. The German car maker has only been officially present in the Iranian market for like two years, but in that time they sold over $17 million worth of 911, Boxster, Cayman, Panamera and Cayenne, and opened a large showroom in Tehran.
Porsche’s sales success in Iran seems all the more significant when you realize Iranian officials impose 100 percent import tax on luxury cars. A standard Porsche Panamera S for example sells for $400,000 there, or a 40 grand Boxster for $130,000.
Porsche will not import any new cars to Iran, but they did not make it clear if Porsche Center is going to continue to service existing customers. Speaking of customers, they won’t be affected by lack of official imports, seeing as car dealers in Iran do not rely on car makers to replenish their stock. They can get their own supply through third parties from Dubai, Kuwait, and other neighbors. Customers will have a pay a bit more though.
“We applaud Porsche for ending its Iran business,” said United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Wallace. “We are satisfied with the pledges Porsche has made, and UANI will now list Porsche as being withdrawn from Iran. Porsche joins fellow automakers Hyundai and Karsan in having taken the responsible action of pulling out of Iran. Other automakers–including Fiat, Isuzu, Kia, Mazda, Mitsubishi, Nissan, Peugeot, Renault, Suzuki, Toyota and Volvo–must now follow suit, and end all business with the brutal Iranian regime.”