75% of 2005 through 2007 model used cars were sold by company fleets.
A study by Israel Tax Authority has found that there are 260,000 company cars in Israel, 165,000 of which are leased from leasing companies. 70% of company cars are classified as use value 2, compared with 50% of privately owned cars in this category.
The Tax Authority says that more than half of sales of leading car 2007 models used for use value classes 1 through 3 were sold to companies and leasing companies. 92% of sales by Ford were for company cars, 83% of sales by Hyundai and Mitsubishi, 75% of sales by Chevrolet, and 57% of sales by Subaru.
The Tax Authority said company car fleets dominated the used car market for 2005 through 2007 models. 75% of used cars were sold by car fleets, and the proportion is expected to rise to 80%.
Published by Globes [online], Israel business news - www.globes.co.il - on August 1, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007