Car Imports Surge by 10% Compared to Previous Year

Car Imports Surge by 10% Compared to Previous Year

In the first month of the year 2024, the data showed a notable increase in the importation of passenger cars into Israel. The total number of cars imported into the country was recorded at 18,403. This represented a significant increase of 10.6% in comparison to the corresponding period in 2023, when the figure stood at 16,640 cars.

The lower importation figures from January of the previous year can be attributed to several factors. Most notably, a high number of cars were imported towards the end of the year, just before a tax increase on electric vehicles was implemented in December. Moreover, a number of vehicles that were intended to arrive in December were delayed until January of 2024. This delay was due to the tense security situation in the Red Sea region at the time.

In addition to passenger cars, commercial vehicles were also imported into the country. However, the importation of these vehicles saw a decrease in comparison to the previous year. In January 2024, a total of 999 commercial vehicles were imported, which is less than the 1,061 that were imported in January 2023, indicating a 5.8% decrease. Despite this decrease, the overall trend of car importation into Israel has been on a moderate upward trajectory since May 2023.

Furthermore, the importation of electrical goods and electronics into Israel saw an increase in January 2024. The only exception was the importation of refrigerators, which saw a significant decrease of 29.6% over the specified period. Other household appliances such as washing machines, dryers, and dishwashers saw increases in importation by 5%, 25%, and 65% respectively. Television imports also saw a substantial increase of 44.5% during the reporting period.

Another category of goods that saw an increase in importation was tobacco products. In January 2024, cigarette imports increased by 11.6%, while imports of other tobacco products also rose, by 10.3% compared to January 2023.

In summary, the total imports into Israel for the month of January 2024 were valued at $6.4 billion. This figure, however, was 20.9% lower when compared to the total value of imports for the same month in the previous year.