Sanction relief is not enough for General Motors to gain access to the Iranian marketplace. According to a report out of Fortune the country has banned the sale of Chevrolets, despite sanction relief allowing the possibility for domestic automakers to sell products in Iran. Specifically Supreme Leader Ali Khamenei is quoted as saying no one wants to buy cars from the “bankrupt American factory.”
The news is likely a bit of a blow to GM. The company allegedly had a pending sale of 200 Chevrolet products to a customer in Iran, assumably a distributor. The sale was allowed as the Iranian government had listed certain Chevrolet models as permitted in the country, joining the ranks of BMW, Hyundai and a handful of other automakers. The deal was allegedly worth about $7 million and would serve as the first significant transaction of GM products in Iran since the 1979 revolution.
Clearly the cars won’t be making their way to Iran anytime soon. It is unknown if GM will attempt to make their case for the ability to sell cars in the country or not.