Prices of new cars to rise sharply after Passover

• Author: Dubi Ben-Gedalyahu
• Published date: 20 April 2022
• Publication title: Globes (Rishon LeZion, Israel)

One large car importer told "Globes, "Car manufacturers are now facing a significantly different and higher production cost base due to the sharp rise for factories in the world in recent weeks in energy prices, raw materials of all types for cars, and prices rises for land and sea transportation and inflationary salary pressures."

Sources in the industry say that the continuing shortage of new cars worldwide, which worsened following production disruptions in China, allow manufacturers to pass on price rises to importers 'without bargaining.' In addition, those sources add that shipping costs have doubled from about $100 per cubic meter in the second quarter of 2021 to about $200 per cubic meter today. Shipping costs alone add thousands of shekels to the price of the car.

So far only the Lubinski Group, which...