10,000 luxury cars sold in Israel in 2014

LaFerrari

Research: Israeli tech firms increase activity in Europe

Luxury car prices begin at $40,000 and LaFerrari will sell in Israel for over $2 million.

Poverty in Israel may be rising while the middle class struggle to make ends meet but the high-end luxury car market is flourishing. More than 10,000 cars costing upwards of $40,000 and sometimes even more than $400,000 were sold in 2014, a 300% rise over the past decade compared with a 76% rise in the market as a whole over that period. Only China has comparable rises.

Popular cars in Israel in this category include Mercedes, BMW, and a range of jeeps and sports cars including Maserati, Porsche and Ferrari the most expensive of all. In 2015, the LaFerrari model will become the most expensive car ever available in Israel, and it is expected to sell for $1.2 million before tax and well over $2 million after tax.

Published by Globes [online], Israel business news - www.globes-online.com - on December 29, 2014