Subscribe to Print Edition | Sun., December 07, 2008 Kislev 10, 5769 | | Israel Time: 01:22 (EST+7)   Back to Homepage web haaretz.com Haaretz Toolbar Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate GA 2008 Travel Week's End Anglo File

Car sales slump 38% By Daniel Schmil Israel's automotive market continues to sag, with vehicle sales in November 38% less than the same month last year. Only 10,148 new cars were sold last month, compared to 16,439 in November 2007. All auto importers reported reduced sales. Mazdas were down by 60%, Toyota by 41% and Hyundai by 30.5%. The sales rankings also were affected by changes in the market. For the first time in months, Hyundai, with sales of 1,104 cars, leap-frogged over Mazda (957) to grab the top spot. Advertisement Manufacturers that in Israel sell mainly to the private market rose in the tables. Volkswagen was fourth, with 766 cars (up 8%), and French maker Citroen took fifth place (643 cars). Chevrolet, in fourth place in the yearly sales rankings, was in eight place only for November, with 513 vehicles. In the luxury market, Mercedes-Benz took pride of place, with 183 cars, followed closely by Audi (179). Uri Lahav, head of the Volkswagen division of Champion Motors, thinks that this time the sales table reflects the preferences of the private consumer as opposed to leasing fleets. "The damage among private purchasers is smaller, so we haven't been hurt by the slowdown," Lahav said. "It's hard to tell whether the discount campaigns were necessary, but they made it possible to continue selling," Amir Menis, vice-president of sales at Peugeot-Citroen importer David Lubinski, said. Sources in the automotive industry say there are several reasons for the drop in purchases. They say the biggest is the expectation of deep price cuts in January, when the classification of vehicle groups for customs and other purposes is updated. As things stand now, however, those expectations are likely to be dashed come 2009. Another reason for people to hold off on buying that new car is that despite the change to the way the Transportation Ministry calculates vehicle model years, 2009 is perceived as being a new model year. Under the new system a car's biological clock starts ticking according to the month it goes onto the road, not the year in which it was made. Leasing companies have two additional reasons for suspending their purchases: financing difficulties due to the banking credit crunch, and falling demand from companies with vehicle fleets. To this we can also add the general recession atmosphere, which leads people to postpone large purchases whenever possible. Bookmark to del.icio.us   Violence on film Two settlers filmed shooting at Palestinians turn themselves in to police. Warning to Iran Bush: United States will not allow Iran to develop a nuclear weapon.

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