What’s new: Chinese brands topped Israel’s car sales in the first half of 2024, leading Korean and Japanese rivals across the market, while also supplying over two-thirds of the EVs sold, according to the Xinhua News Agency.
Chinese automakers sold 34,601 fossil-fuel powered and electric vehicles (EVs) in Israel from January through June this year, Xinhua reported Saturday, citing figures from the Israel Vehicle Importers Association. Korean and Japanese brands followed with sales of 27,187 and 23,185 vehicles, respectively, it said.
For EVs alone, Chinese brands accounted for 68.31% of Israel’s EV market with 26,803 vehicles sold, Xinhua said.
BYD Co. Ltd. was the most popular brand, selling 10,178 cars across its six models available there. The Atto 3 SUV was the best-selling model in Israel, accounting for 71% of BYD’s sales.
The background: In 2023, Chinese EV-makers sold 29,402 vehicles in Israel, more than double the figure from 2022, according to Xinhua.
China was the world’s top auto exporter last year, cementing its position after overtaking Japan in the first quarter, driven by increased demand for new-energy vehicles, higher deliveries to Russia and greater domestic competition.
But Chinese automakers, especially EV-makers, are bracing for the impact of additional tariffs imposed by the European Union and the U.S. on battery-electric vehicles shipped from China, and are doubling down on expanding in other countries.
BYD and Turkish government officials are expected to announce the construction of a $1 billion EV plant in the west of the country, Bloomberg reported Saturday. The Shenzhen-based EV giant opened its first plant in Thailand on Thursday.
Contact reporter Kelsey Cheng (kelseycheng@caixin.com) and editor Jonathan Breen (jonathanbreen@caixin.com)
