Importers raise 2012 car prices

The weakening of the shekel against the Japanese yen, the euro, and the US dollar (in which South Korean motor vehicles are priced) is the reason.

Many motor vehicle importers today raised their prices for 2012, due to the weakening of the shekel against the Japanese yen, the euro, and the US dollar (in which South Korean motor vehicles are priced). For example, the shekel-yen exchange rate reached a 12-month high on Friday.

Ford and Mazda importer Delek Automotive Systems Ltd. (TASE: DLEA) has raised prices of the Mazda 3 and Ford Focus by NIS 3,000. It was followed by Chevrolet and Isuzu importer UMI Ltd., which raised prices for the Chevrolet Cruise, by the same amount to NIS 123,000 for the basic model.

Subaru importer Japanauto Ltd. (TASE:JPNT.B1) has raised the basic price for the Impresa sedan to NIS 125,000 and raised the price for the Liberty B4 sedan by NIS 7,000. Hyundai Israel Ltd. will publish its 2012 price list on Tuesday, which market sources believes will probably show slightly higher prices on key models.

Kia Motors Israel Ltd. has raised the price of its Picanto compact by NIS 700, the price of its Forte sedan by NIS 1,900, and the price of its Sportage by NIS 1,500. Chrylser Israel Ltd. and Toyota Israel Ltd. both plan to raise prices on key models, including the Corolla, which will cost NIS 124,000.

Volkswagen, Audi, Seat, and Skoda importer Champion Motors Ltd. raised prices for the Czech-built Skoda several weeks ago, but said that prices for Volkswagen, Audi, and Seat cars would not be raised at this time, although the issue was under review. Delek Auto, which just acquired BMW importer Kamor Motors Ltd., said that it would not change prices at this time.

Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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