The Israel Tax Authority reports that car imports were down 31% in November 2008 compared with November 2007, and imports of commercial vehicles were down 29%. 9,666 private cars and 854 commercial vehicles were imported in November.
The Tax Authority added that vehicle imports have been declining steadily since April, and that the downward trend intensified in the past two months. Part of the decline can be attributed to the cut in the purchase tax, due to come into effect on January 1, 2009.
183,557 vehicles were imported in January-November, 6.1% more than in the corresponding period in 2007. Imports rose by 20% in value terms partly because of changes in exchange rates and higher import prices.
Despite the economic slowdown, however, imports of durable goods, with the exception of clothes dryers and washing machines, rose in November, compared with November of last year. Imports of refrigerators rose 12%, imports of dishwashers rose 25%, TVs rose 31, and DVD players rose 14%. Imports of washing machines fell by 2.5% and imports of clothes dryers fell by 2%.
Imports of durable goods totaled $4.3 million in November, 1.5% more than in November 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on December 3, 2008
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