Q4 ’96 profits for Delek Vehicle Systems were NIS 34.2 million. Shagrir ended 1996 on NIS 12.5 million in profits.
What could already be surmised from 1996 auto import figures was reported today in Delek Vehicle Systems’ annual report. Delek Vehicle Systems subsidiary Delek Motors, the Mazda importer to Israel, ended 1996 on NIS 1.27 billion in sales and NIS 104 million in net profit.
Taking affiliate Shagrir’s (33%) results into account, with NIS 12.5 million in 1996 net profit, Delek Vehicle Systems ended 1996 on NIS 108.1 million net profit compared with NIS 35.9 million in 1995.
Q4 ’96 was Delek Motors best quarter ever, with NIS 369.7 million in sales and NIS 34.2 million in profit. In terms of quantity, Delek Motors sold 5,014 Mazda vehicles in Q4 ’96, compared with 3,701 in Q3 ’96 and 3,781 in Q4 ’95.
Delek Motors notes that Mazda’s Lantis and 323 private car models were the main reasons for this years success. The company sold 16,949 cars, compared with 9,556 in 1995, a 77.4% increase, as compared with a minor 2.7% rise in the number of cars sold in 1996. Since beginning operations in 1992, Delek Motors has sold 47,000 Mazda vehicles.