New car deliveries in Israel in October 2017 rose 45.6% to 19,829 vehicles compared with October 2016. The reason for the sharp rise was due to the way the holidays fell this year. Between January and October 2017, 257,977 new vehicles were delivered in Israel, down 2% from last year, which was a record year.
Hyundai is Israel's most sold new car with 34,973 deliveries in the first ten months of the year, down 4.3% on the corresponding period of last year. Kio (a subsidiary of Hyundai) was in second place with 32,952 deliveries, down 4.2% from last year. Toyota was in third place with 26,968 deliveries, up 6.4% from last year, and Skoda was in fourth place with 18,230 deliveries, up 9.2% from last year. Fifth was Suzuki with 11,107 deliveries, up 34.2% from last year, and sixth was Nissan with 10,360 deliveries, up 24.2% from last year.
Sources in the sector expect November and December to be weak for new car deliveries, as they were last year, as people wait for the new 2018 models.
The Bank of Israel also issued figures today about bank credit for vehicles. Credit in the first half of 2017 rose 15% to NIS 13.347 billion, compared with NIS 11.104 billion in the first half of 2016. At the end of June, the Bank of Israel issued a list of recommendations to banks regarding credit for car buying aimed at cooling the market.
Published by Globes [online], Israel business news - www.globes-online.com - on November 5, 2017
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