New Report Available: Israel Autos Report 2015

Although BMI had been concerned that the conflict in Gaza during Q314 would undermine new vehicle sales in Israel - which were down by 12.1% year-on-year (y-o-y) in the month of July - there was no lasting effect. So, based on current buoyant sales trends, BMI is targeting full-year total new vehicle sales of around 260,000 units, representing annual growth of around 16%.

BMI believes that there will be a slowdown in new vehicle sales growth in 2015. We are targeting growth of 4.5% in passenger car sales, with slightly stronger growth of 7% for the commercial vehicle sector. Passenger car sales could well be undermined by higher taxes and still-depressed consumer confidence. That said, passenger cars will continue to account for the lion's share (77%) of total new vehicle sales in 2015. Over the full forecast period to 2018, we are targeting 24% growth in the overall Israeli new vehicle sales market, which will take annual sales to just above the 320,000 unit mark.

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On the positive side, a growing economy should lend support to new vehicle sales across 2015 and beyond. BMI's Country Risk team is forecasting GDP growth of 3.3%, up from 2.5% estimated for 2014. A moderation of austerity policies over the coming years, coupled with increasing exports and a subsequent acceleration in fixed investment growth, underpin our positive view for the Israeli economy over the next five years and we forecast real GDP growth to average 3.6% over this period.

Turning to private consumption, a key indicator of likely demand for new vehicles, we are forecasting growth of 3.5%, up from 3% in 2014. Low interest rates - the Bank of Israel cut interest rates twice over Q314 to take the policy rate to 0.25% - should also prove supportive to vehicle demand, as they feed into lower rates for car loans, which will aid those Israeli consumers dependent on auto financing for new car purchases. In this context, we believe that there may be a further 0.1% cut in Q414, with these ultra low...

The Israel Autos Report features the latest data and forecasts covering production, sales, imports and exports.

Business Monitor International (BMI)'s Israel Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Israel.

Key Benefits

* Benchmark BMI's independent automotives industry forecasts on Israel to test other views - a key input for successful budgetary and planning in the Israeli automotives market.
* Target business opportunities and risks in the Israeli automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Israel.

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