Ahmadinejad’s Old Car Brings $2.5 Million at Auction

VOA Breaking News
Voice of America
March 2, 2011 at 2:35 pm

The 34-year-old car of Iranian President Mahmoud Ahmadinejad has brought $2.5 million at a charity auction organized to raise money for a national low-income housing program.

Auction officials sold the 1977 Peugeot 504 Tuesday in a classic car exhibit in the southwestern Iranian province of Khuzestan. Officials also had made the auction available on a bidding website and said several bids came from collectors in other countries.

An unnamed company purchased the car. A lawyer reportedly representing the firm did not release any details about the buyer.

President Ahmadinejad arranged for the auction to help with efforts to raise funds to build 60,000 housing units for the disabled and women in need who are heads of their households.

Mr. Ahmadinejad used the car when he was mayor of Tehran, but has rarely used it since becoming president in 2005.