Jacob Shachar and Israel Kass's Mayer Car and Trucks seeks to bolster the second-hand car market.
Hebrew daily “Yediot Ahronot” reports that Jacob Shachar and Israel Kass have taken over used car chain Auto Center. Sources inform "Yediot Ahronot" that Shachar and Kass's Mayer Cars and Trucks acquired 50% of Auto Center before Rosh Hashana from Levy Kushnir, thereby gaining full ownership of the company.
Mayer Cars and Trucks imports Honda, Volvo and Jaguar cars. It acquired half of Auto Center two years ago, in order to expand its trade-in business for the makes of cars it imports. Mayer Cars and Trucks controls Israel Phoenix Assurance (TASE:PHOE1;PHOE5), the Israel Hertz Rent-A-Car franchise and the Maccabi Haifa football club.
Auto Center is Israel's largest used car chain, with five branches.
Mayer Cars and Trucks manager Avner Kass, Israel Kass's son, said yesterday, "It is advantageous for Mayer Cars and Trucks to fully own a chain like Auto Center, which supports our trade-in business and helps sells the used cars of our Hertz Israel franchise. We intend to continue improving Auto Center's level of service and professionalism."
Published by Globes [online] - www.globes.co.il - on September 19, 2004