Record new car sales defy economic slowdown

New cars in Haifa Port Photo: Warhaftig Venezian
New cars in Haifa Port Photo: Warhaftig Venezian

Despite Israel's sluggish economic performance, 2016 car sales have shown stronger growth than in any other developed country.

Despite the sluggish performance of Israel's economy in 2016 so far, sales of new cars have hit new heights. 25,000 new cars were delivered in May, up 23% from May 2015 and 140,000 vehicles have been delivered in the first five months of 2016, up 17.4% from the corresponding period of 2015, which was itself a record.

An examination by "Globes" found that Israel's vehicle market has shown the biggest growth in 2016 of any developed country.

Published by Globes [online], Israel business news - www.globes-online.com - on June 6, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

New cars in Haifa Port Photo: Warhaftig Venezian
New cars in Haifa Port Photo: Warhaftig Venezian
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