A record 22,902 vehicles were delivered in May 2007, 38% more than in May 2006, the Israel Motor Vehicles Importers Association reported, on the basis of Motor Vehicle Department reports. 72,051 vehicles were delivered in January-May, up 24% on the corresponding period of last year.
Demand by leasing companies was responsible for most of the increase, since they do not think that the company car reform will be implemented anytime soon and will not effect the market. Demand from individuals was also heavy, because of a shortage of new models in the preceding months, and lower prices.
Hyundai made 4,702 deliveries in May, followed by Mazda, with 4,057 deliveries; Toyota - 2,972; and Ford - 2,007. Ford and Mazda importer Delek Automotive Systems Ltd. (TASE: DLEA) was the number one importer, delivering 16,921 vehicles in January-May, 55% more than during the corresponding period.
Published by Globes [online], Israel business news - www.globes.co.il - on June 5, 2007
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