The Israeli auto market is still accelerating without brakes on its way to setting new records. 188,633 new vehicles were delivered in January-August, up 8.5%, compared with last year's record place. In August alone, usually considered a vacation month with little activity, no fewer than 21,240 vehicles were delivered, a 16.4% jump, compared with August 2014.
For the first time ever, KIA Motors leads the auto deliveries table with 24,371 in January-August, 30% more than in the corresponding period last year. In second place came Hyundai with 24,039 deliveries, a 3% increase. Toyota was third with 21,488 deliveries, up 9.4%. Mazda came fourth with 13,029 vehicles, a 1.2% decrease. Mitsubishi was in fifth place with 11,927 deliveries, following a 3.14% rise.
The Israel Tax Authority today reported that state revenue from import taxes on imported vehicles have set new records this year, rising 24.3% and passing the NIS 10 billion barrier. Revenue from VAT on imported vehicles also spurted. The average tax on a vehicle in Israel last year was over NIS 32,000. An annual review of the auto sectors published today by the Tax Authority stated that the proportion of new vehicle sales accounted for by auto leasing companies rose substantially last year.
Published by Globes [online], Israel business news - www.globes-online.com - on September 2, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015