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Business

BMW Delivers Cars to Iran

German carmaker BMW on Tuesday delivered 10 vehicles to Iran for the first time in many years, a BMW representative in Tehran told the AFP news agency. Customs had passed two vehicles from BMW's Five series, while formalities for the remaining cars were expected to be completed in the coming days. The cars had all already been sold before being transported to Iran. Iran has only allowed car imports since 2003, and then only after imposing custom duties ranging from 130 to 300 percent of the vehicle's sale price. The BMWs, which would have cost around €45,000 (around $54,500) in Germany, cost a total of €120,000 in Iran. An Iranian city resident would have to work 38 years to earn that much money, AFP reported.