July 3, 2022

Y M L P-298

It Must Be Business

Prices of new cars to rise sharply after Passover

2 min read
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Israel’s auto field is preparing for a wave of rate increases soon after the Passover holiday getaway upcoming 7 days. Typically selling prices of new cars rise at the start out of the 12 months but car or truck importers assert that costs rises in the second quarter this calendar year stem instantly from price hikes by most automobile suppliers as a final result of the Russia-Ukraine crisis.

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One particular huge auto importer explained to “Globes, “Car makers are now struggling with a considerably distinctive and greater output price base owing to the sharp increase for factories in the earth in recent weeks in power costs, uncooked supplies of all types for cars and trucks, and costs rises for land and sea transportation and inflationary wage pressures.”

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Sources in the sector say that the continuing scarcity of new cars globally, which worsened pursuing manufacturing disruptions in China, enable suppliers to pass on price rises to importers ‘without bargaining.’ In addition, those people resources add that shipping and delivery prices have doubled from about $100 for each cubic meter in the next quarter of 2021 to about $200 for every cubic meter right now. Shipping expenses by yourself incorporate 1000’s of shekels to the cost of the motor vehicle.

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So much only the Lubinski Team, which imports Peugeot, Citroen, Opel and MG vehicles, up to date its price record at the commencing of April, with the price of preferred types rising by 2%-10%. Other importers are also thinking of selling price rises on autos in the coming couple of months which includes hybrid and electric vehicles.

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Resources in the motor vehicle market say that the power of the shekel has acted as a shield, avoiding even sharper value rises but that nevertheless, price tag rises are inevitable.

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Printed by Globes, Israel organization information – en.globes.co.il – on April 20, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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