Israel's car market is driving forward despite the instability in financial markets. Market sources predict that January 2008 will see record car sales, with 21,000-22,000 deliveries.
Leasing companies are responsible for 60-70% of deliveries, while sales to private customers, who delayed buying cars in December in expectation of lower prices in January, are burgeoning.
Delek Automotive Systems Ltd. (TASE: DLEA) is expected to break its May 2007 record of 6,000 deliveries. Market sources predict that the Ford and Mazda franchisee will deliver 6,100-6,300 cars, thanks to massive demand for the new Mazda 6 models. Demand is also heavy for the Mazda 2 and Ford Mondeo. The importer is delivering 250 cars each business day, amounting to NIS 7.5 million revenue a day, based on the weighted average price for a Mazda.
Toyota Israel Ltd. expects to deliver 2,700-2,800 cars this month, Hyundai Israel Ltd. expects to deliver 1,700 cars. GM, Isuzu, Saab and Opel importer UMI Ltd. expects to deliver 1,600 cars, and Champion Motors Ltd. will deliver 800 Volkswagens and 600 other cars. Honda Israel is also breaking its record, expecting to deliver 1,200-1,300 cars this month.
Published by Globes [online], Israel business news - www.globes-online.com - on January 28, 2008
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