Israeli Used Electric Vehicle Market Sees 70% Surge in Demand Amid Uncertainty
A recent analysis reveals a 70% surge in searches for used electric vehicles in Israel. Automotive expert Udi Etzion attributes the trend to shifting consumer demand despite ongoing regulatory uncertainties.
The used electric vehicle market in Israel is experiencing an unprecedented surge in demand, contrasting sharply with trends in the new car sector. Automotive expert Udi Etzion revealed internal data from the Yad2 platform, showing a nearly 70 percent increase in searches for used electric vehicles and a 20 percent rise for hybrids.
Discussing the market dynamics with Liat Ron on 103fm radio, Etzion noted that this grassroots demand could potentially help stabilize the steep depreciation rates currently plaguing electric cars. However, consumer sentiment remains sensitive to regulatory changes and taxation policies.
Uncertainty surrounding government policy, particularly potential changes to purchase taxes and registration fees, continues to shape the industry. Currently, electric vehicles benefit from a 27,000 shekel purchase tax exemption, though the Ministry of Finance is reportedly weighing adjustments ahead of the upcoming fiscal year.
Despite regulatory ambiguities, vehicle imports have accelerated significantly. Importers have brought 276,000 cars into the country since the beginning of the year, driven by expectations of rising green taxes and the strict requirement for vehicles to dock by the end of December.
