Leased car sales rose in 2018

February 11, 2019 00:49
A car with the Volkswagen VW logo badge is seen on display at the North American International Auto

A car with the Volkswagen VW logo badge is seen on display at the North American International Auto Show in Detroit, Michigan.. (photo credit: REUTERS)


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In 2018, there was a turnaround in the sale of used cars from leasing companies.

About 40% of the transactions were carried out by direct sales to customers without the need for agents or used-car dealers.

Noam Razi, vice president of sales at Operate Lease, which is equally owned by Tiferet Group and Meir Group, noted that at the end of 2018 there was a 7% increase in sales of used cars compared to the corresponding period last year. In November, more than 700 vehicles, valued at approximately NIS 50 million, were purchased.

During 2018, the company sold about 5,000 vehicles, valued at NIS 350 million.

Of all cars sold in November and December, 38% of the transactions were trade-ins and 33% of transactions were financing deals.

Operate Lease owns a fleet of about 12,000 vehicles.

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