August car imports rise 20%

From the beginning of the year, imports of private usage cars increased by 35.5% to 130,831 compared with the January to August period last year.

By SHARON WROBEL
September 4, 2007 08:18

 
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Car imports rose by 20 percent to 13,527 during August compared with the same month last year, while imports of commercial cars fell 25% to 938 during the same period, the Israel Tax Authority reported on Monday. From the beginning of the year, imports of private usage cars increased by 35.5% to 130,831 compared with the January to August period last year. At the same time, commercial car imports dropped 13.2% from January to August this year. Separately, Transport Minister, Shaul Mofaz announced that starting from January 1, 2010, all imported cars must be equipped with an Electronic Stability Program (E.S.P.), which helps stabilize the car to correct oversteering, understeering and loss of stability in the vehicle. The Transport Ministry has reached an agreement with the Israel Tax Authority that from January 2008, purchasers of new cars equipped with the E.S.P. system will get improved tax benefits.

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