Iran to Roll Out a 400 Million Toman Loan for Replacing Worn-Out Cars Next Week; Gap to the Cheapest New Car Still Tops 500 Million Tomans (Friday, 23 Mordad 1405)

Farshad Moghimi, deputy industry minister and head of Iran's IDRO, said Friday, 23 Mordad 1405 (August 14, 2026) that a revised bylaw on replacing worn-out ("frasudeh") cars takes effect next week, offering up to 400 million tomans in bank financing per vehicle. That sum, plus up to 180 million tomans in scrappage certificates, still falls more than 500 million tomans short of the cheapest new car Sahmino tracks, the Saipa Pride 151 GX at roughly 1.15 billion tomans.