Israel's car import market recorded a strong fall in the first quarter of 2024, although electric cars grabbed a far bigger market share. 89,041 cars were delivered in the first quarter of 2024, down 16.6% from the corresponding quarter of 2023. 25% of the cars delivered in the first quarter were electric compared with 14.6% in the first quarter of 2023.
20,440 of the cars delivered in the first quarter were manufactured in China, up 22% from the first quarter of 2023, and up 460% from the first quarter of 2022. Cars manufactured in China represented 23% of all cars delivered to Israel in the first quarter.
The best-selling brand in Israel in the first quarter of 2023 was Hyundai with 12,036 deliveries, down 34.1% from the first quarter of 2023, followed by Kia with 9,645 deliveries, down 22.7%. In this place was Toyota with 8,103 deliveries, down 7.5%. Chinese company BYD was in fourth place with 6,990 deliveries, up 18.6% from the first quarter of 2023, and in fifth place was Skoda with 6,017 deliveries, down 22.2%. The best-selling car model in the first quarter was BYD's ATTO3, followed by the Hyundai Elantra and the Kia Niro.
Car deliveries to Israel from Korea and Japan have been disrupted by the Houthi attacks in the Red Sea.
Published by Globes, Israel business news - en.globes.co.il - on April 3, 2024.
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