Car deliveries in Israel in January are expected to total 32,000, up from 27,000 in January 2014.
Despite deflation, slower growth and a stagnant capital market, the new car market is boiling over in Israel. Initial data received by "Globes" shows that next week figures will be published for an all-time high of 32,000 new vehicle deliveries in January, up from 27,000 cars in January 2014.
Market sources say that a large part of the deliveries have been to leasing companies that stop ordering new cars in November so as to wait for the new models. Consequently December deliveries were half the monthly average. In addition, importers brought in a large number of cars in December ahead of the green tax update at the start of January. Most of the cars have already been released from customs and excise thus paying the old tax. Consequently deliveries in January took place swiftly and were not delayed until February for logistical reasons.
An estimated 25-40% of new deliveries are luxury cars with Audi delivering 900 vehicles in January and Mercedes over 500 with record numbers also for BMW and Mini.
Published by Globes [online], Israel business news - www.globes-online.com - on January 29, 2015
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