The market for luxury cars in the country broke a record and sales jumped by 88%, despite the economic crisis created by the spread of the Corona virus, while the general increase in vehicles rose much less. Car importers say: “Those who used to buy less luxury cars, now allow themselves as compensation”
There has been a significant jump in the sale of luxury vehicles in Israel in the last civil year, despite the economic difficulty created due to the Corona virus crisis that is still in the country. This was reported this morning (Wednesday) in “Israel Today”.
While the overall car market grew in 2021, in 35% the luxury car category grew by about 88%. Thus, according to the Association of Car Importers, sales of the Ferrari brand jumped by 166.7% from Zarati by 100% and Alfa Romeo by 95.1%.
“The delay in approving the Ministry of Transportation’s licensing fee caused a delay in dedication in January,” said Shai Feldman, CEO of Sergeant, “but we estimate that this trend will continue this month as well.” For the Ferrari brand, for example, this was the peak year in Israel. “
That “as a result of the corona, many expenses like trips and vacations abroad have decreased, and those who have bought less luxury vehicles in the past impress them as compensation. In addition, if in the past every exit was the property of shareholders and executives, now intermediate levels are integrated and this has brought in new audiences. “
Regarding prices, says Feldman, “there are insignificant increases in the entire car market, but on the other hand the shekel has strengthened. The big challenge today is less in price increases and more in production. It is estimated that if there were no production problems in 2021, the car market in Israel could reach 350,000. To dedication “.
Erez Tropen, VP of Marketing and Sales at the Mizrahi Car Marketing Company, also talks about growth in the luxury car market, including leisure and off-road vehicles. “It was the same in 2021, despite the chip crisis that slowed the pace in recent months,” he says.