New car sales in Israel fell sharply for the second month in a row; In November the drop was 41.8%, reports focus2move on December 24.
“After growing 3.1% in the second quarter compared to the previous quarter, Israel’s economy recorded strong growth in the third quarter. However, in the fourth quarter the conflict with Hamas gained momentum. The government called up more than 300,000 reservists, causing labor shortages and reducing private spending.””, the analysts noted.
In total, 12.9 thousand cars were sold on the Israeli market at the end of November, 41.8% less than the same indicator in November 2022. Since the beginning of the year, sales amounted to 264.8 thousand vehicles (+ 3.1%).
It should be noted that in 2021 the country’s automobile market experienced rapid growth, registering a record of 284.4 thousand cars sold (+34.6%). At the same time, disruptions in supply chains, problems in the microchip market and a forced transition to electric vehicles did not allow the market to recover.
Recall that in Russia at the end of November 109.7 thousand cars were sold. In total, since the beginning of the year, sales amounted to 939.3 thousand cars, 64.9% more than the same figure from the previous year.
Source: Rossa Primavera
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