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Mahmoud Ahmadinejad's Old 1977 Peugeot 504 Auction

Mahmoud Ahmadinejad's Old 1977 Peugeot 504 Auction - The President of Iran Mahmoud Ahmadinejad's old 1977 Peugeot 504 is up for auction. Why is the old car on the auction block? Apparently Ahmadinejad is going to give the proceeds to charity.

The charity that will benefit from the auction of the Ahmadinejad's old car is one that funds young people’s housing projects. It is called the the Mehr Housing Fund. This move is seen as an effort to appeal to young people in Iran as well as helping draw attention to housing projects that he has promised. During his campaign, the president promised that every Iranian would have a roof over his head.

Mahmoud Ahmadinejad's Old 1977 Peugeot 504 Auction

The old car has rarely been used by the president in recent years, but when he was mayor of Tehran, he was often seen out and about in the gleaming white sedan. The auction for the classic car will be in February in Abadan. Generally, a car like the Peugeot would sell for about $2,000, but the president has high hopes for the charity auction. In fact, the hope is that the car will sell for much more.

Unfortunately for Ahmadinejad, the auction isn’t likely to provide much of a distraction for the cash-strapped Iranians who are struggling for food as well as housing. Many of the people who live in the country have to pay a third of their income towards monthly rent. The president has promised to build 1 million units by March 2011 – 140,000 have been completed. He will be hard pressed to fulfill this promise. The 1977 Peugeot 504 is going to have to sell for quite a bit. Obviously it is tough to give up a beloved old vehicle, and hopefully for the sake of Iranians, the auction will end up being helpful.

Source: http://news.gather.com/viewArticle.action?articleId=281474978861993

Mahmoud Ahmadinejad's Old 1977 Peugeot 504 Auction
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