The increases are estimated to range between 2% and 3%.
Importers of vehicles made in Europe or whose prices are linked to the euro have begun raising their prices. The price hikes are expected to range between 2% and 3.5% to cover the sharp rise in the shekel-euro exchange rate in recent weeks.
PSA Peugeot-Citroen SA (Paris:PEU) importer David Lubinski Group Ltd. has raised prices by 1-3% in its new pricelist. Fiat SpA (NYSE; LSE:FIA; Milan:FIAT) and Kia Motors importer Mediterranean Car Agency Ltd published a new, updated pricelist a few days ago. Renault SA (Paris: RNA; LSE:RNT) and Nissan Motor Co. (TSE:7201) importer Carasso Auto Importers Ltd. is expected to publish a new price list with higher prices in a few days.
Mercedes-Benz importer Colmobil-Colmotor Ltd. published a new pricelist in which prices were 2.5% higher on average. The pricelist will come into effect on August 1. Ford Motor Company (NYSE:F; LSE:FDM) importer Delek Automotive Systems Ltd. (TASE: DLEA) says that the subject is under discussion, but no decision has been made yet.
Published by Globes [online], Israel business news - www.globes.co.il - on July 30, 2007
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