Record new-car sales this year defy sluggish economy

Despite the sluggish performance of Israel’s economy in 2016, sales of new cars have hit new heights. Some 25,000 new cars were delivered in May, an increase of 23 percent compared with last May. Some 140,000 vehicles have been delivered in the first five months of 2016, up 17.4% from the corresponding period of 2015, which was itself a record.

Israel’s vehicle market has shown the biggest growth in 2016 of any developed country, according to a study by Globes.