According to Tejarat News, yesterday (Tuesday) we saw the acceptance of Shahin’s car of Saipa Automotive Group in the Commodity Exchange; An issue that had been raised for months, and according to the head of the stock exchange organization, it seemed that this action would be implemented soon. In an interview with “Ahmad Rahimi”, the director of supply operations of the Iran Commodity Exchange, the latest details and coordinates of the supply of cars in the Commodity Exchange were examined, which you can read below.
Elimination of the lottery is one of the benefits of offering a car on the commodity exchange
Finally, we see the acceptance of cars in the commodity exchange, will the whole supply of Shahin be done in the commodity exchange and will other Saipa cars or other car manufacturers enter the commodity exchange?
Rahimi: Based on the consultations that started last year. Shahin Khodrosazi Saipa, for example, is accepted in the Commodity Exchange according to the instructions and approvals of the Supreme Council of the Exchange after obtaining the relevant documents and through legal procedures, and according to the letter of hope published on the Iran Commodity Exchange website, at least 80% of annual car production. Shahin will be offered through the Iran Commodity Exchange. Also, after examining the advantages and disadvantages of offering cars in the commodity exchange, the necessary decision will be made regarding the supply of other cars by other manufacturers through the commodity exchange.
What are the benefits of offering a car on the stock exchange and what are the advantages of this method over the current lottery?
Rahimi: With the supply of cars on the commodity exchange, car allocation has been removed from the lottery process, and according to al-Qaeda, the losses of car companies will be reduced to profitability if sold at the real price. The end consumer will also participate in a fair auction and will buy the car he needs at the final price he is considering. In this transaction, the car seller company will receive the full amount paid by the buyer of the goods, and thus the profit resulting from the price difference between the market and the factory will be transferred to the manufacturer’s account.
People with a stock exchange code can participate in the supply of cars
Who can buy a car on the commodity exchange, and given the high volume of buyers, is the commodity exchange infrastructure ready to register heavy demands?
Rahimi: Due to the upgrading of the infrastructure of the Commodity Exchange in terms of infrastructure, there is no problem for trading and all people with a stock exchange code can attend this auction.
Car price discovery is done through auction / What will be the process of car price discovery in the commodity exchange?
Rahimi: The price of the car was also discovered through an auction, and naturally, if a product is available and there is no need for a lottery, we will see a decrease in the difference between the factory and market prices over a period of time.
Will financial instruments be defined on the car as well?
Rahimi: Various tools such as physical market, commodity deposit certificate, standard parallel futures and… are considered as a package for the automaker and they can use these tools according to their needs.
Can the supply of cars in the commodity exchange put an end to the deep problems of this industry in the field of market and production?
Rahimi: Part of the problem of the automotive industry, which is mainly related to the difference between the factory price and the market price, has been resolved in this event, and with the return of money from this price difference to the manufacturer’s account, we should expect to increase the quality and quantity of goods. In the end, it should be said that the supplier of goods will be subject to 10% tax exemption for all his sales through the commodity exchange, and all the details of supply and how to buy will be informed when the goods are offered.
Source: IRNA