Overview of Israel’s Automobile Market in 2023

Automobile sales in Israel increased by 0.1% from the previous year to 284,476 units in 2023. The slump in commercial vehicle sales (23,943 units, down 9.0%) was offset by an increase in passenger car sales (260,533 units, up 1.1%). The top three brands, Hyundai, Kia and Toyota, each declined compared to the previous year. On the other hand, the growth of Chinese manufacturers wasremarkable, with BYD in fourth place selling 15,288 units, an increase of 4.0 times, and Chery in seventh place pushing up sales 12.3 times, to 11,162 units. Overall sales of Chinese brands surged by 2.1 times to 45,500 units, and their market share in total automobile sales rose by 8.5 points to 16.0%.