Despite the economic crisis caused by the coronavirus pandemic, the car sale market grew by 35% in Israel in 2021, with the sale of luxury cars, in particular, having spiked by a whopping 88%, according to data published by the Israel Vehicle Importers Association this week.
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Sales of Ferrari went up by 166.7%, Maserati by 100%, and Alfa Romeo by 95.1%.
"As a result of the pandemic, lots of expenditures, such as traveling abroad, decreased, with many now having the ability to purchase luxury cars" Shay Feldman, CEO of the Samelet Israeli dealership of imported automobiles, explained.
Erez Tropen, VP Sales and Marketing at Eastern Automobile Marketing, concurred.
"People have more disposable income and fewer expenses, and for them, this is an opportunity to fulfill a dream," he said.
According to Tropen, Eastern Automobile Marketing also experienced a significant increase in trading, with the sale of Range Rover Evoque, for example, having more than doubled.
"Just two weeks ago we launched our flagship, the new Range Rover, which goes for 2.1 million shekels [$670,000] and up. After a week of a marathon of personal meeting, we already have several dozen orders, including from new customers."
Dror Goralnik, CEO of Lexus Israel, contributed the sales increase to the introduction of new brands in the country.
"In the luxury car market, battery-powered vehicles – hybrid and electric – account for more than 50% of the sales, as opposed to the 25% in the general market. In 2021, we launched the electric UX, and the year [2021] was record-breaking with 630 cars sold."
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