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Iran stagnating as shoppers delay purchases

Consumers waiting for international brands to arrive but local manufacturers find it challenging competing with foreign goods with opening of market after nuclear deal
Wednesday, September 23, 2015 - 05:50
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Iranians driving a Pride car made by Saipa (left) and a Hyundai luxury car (far left) in Tehran. A campaign to boycott "substandard and expensive" Iranian-made cars has fired up social media in the country. Campaign supporters say Iran's two carmakers, Iran Khodro and Saipa, take advantage of import tariffs to sell outdated and unsafe vehicles at inflated prices.

Dubai

TWO months after Iran reached a nuclear deal that will open its markets to the world, officials are warning of economic stagnation as consumers hold off on purchases of domestic goods while they wait for international brands to arrive.

From cars to fridges and televisions,