Range Rover 2022 (manufacturer)
After the jump in foreign exchange rates in recent weeks, it was only a matter of time, and of the liquidation of the inventory that arrived in Israel at the end of 2022 and was released at significantly lower exchange rates, that the price increases in the car market would resume.
The euro, for example, jumped by 17.6% since the end of August and by 3.5% since the beginning of the year, to a rate of NIS 3.87.
The dollar has jumped 8.3% since the end of August, and the strengthening of the shekel today following the expectations of Prime Minister Benjamin Netanyahu's announcement this evening has erased almost all of its jump since the beginning of the year.
The Mizrah company, importer of Land Rover and Jaguar, published a new price list this week, which expresses an average price increase of 7%.
For example, the basic Defender 90 became more expensive to NIS 595,000, an increase of 6.9%.
Defender 130, which was just launched in Israel last month, became more expensive by 6.3%.
Defender 130 new and classic.
Where are the old prices (Photo: Rami Gilboa)
The cheapest model in Range Rover's range, the Evoque, went up in price from NIS 306,000 to NIS 327,800, an increase of 6.9%.
Whereas the classic Range Rover, in autobiographical trim level, became more expensive by no less than 90 thousand shekels to 1.452 million shekels, an increase of 6.8% and an amount at which you can buy a new Hyundai i10.
The increase in the price of the British luxury brand comes at a time in the automotive industry where there are reports of a slowdown in the sale of luxury cars, following the rise in interest rates and uncertainties in the economy due to the political crisis.
The importers of popular brands also stocked up on large stocks at the end of 2022, in order to anticipate the increase in the price of cars due to the tax increase on electric vehicles and plug-in vehicles, and the general increase in price following the entry into force of the new green tax outline, which again reduced the benefits for less polluting cars.
Some of the importers, mainly of electric vehicles and plug-in vehicles, have already announced that they will increase their prices as soon as they start selling new stock released according to the current tax rates.
The question is whether the apparent slowdown in sales of the new car will cause them to recalculate their course in building their new price lists.