Despite the economic slowdown in Israel in most areas of consumption, and though many prospective new car buyers are hanging on for 2016, Israel's new car market demonstrated enormous strength in November. Over 21,000 new cars were delivered, slightly more than November 2014.
Between January and November 2015, 244,955 new cars were delivered, up 6% from the corresponding period of 2014, and already a new annual record, even before December sales are taken into account. However, industry sources estimate that December sales will be low with traditionally low sales from institutional customers in the final month of the year.
New car sales in Israel are led by Korean manufacturer Kia, which has sold 32,466 cars since the start of 2015 up 28% from last year. In second place is another Korean automaker, Hyundai with 29,822 cars delivered, down 2%. In third place in Toyota with 28,801 cars sold, up 8%. In fourth place is Mazda with 16,745 deliveries, down 1%, and in fifth place is Skoda with 15,811 deliveries, up 18%.
Industry sources believe that January 2016 will be a record breaking month with more than 30,000 new cars sold including more than 4,000 luxury off-the-road and sports cars.
Published by Globes [online], Israel business news - www.globes-online.com - on December 3, 2015
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