NIS 40,000 discount: State killing electric cars, deals raging
Tesla reduced the price of Model 3, and many electric cars are now offered at large discounts by importers and in 0 km routes in leasing companies. The full list is inside, and also the pessimistic explanations of industry leaders, how the government’s tax lust caused the situation.
Two years ago, electric cars were a better investment than real estate. With a shortage of supply and frequent price increases by manufacturers, many sold at a profit the electric cars they ordered before receiving them. In showrooms, they were bewildered again and again by the new car’s handover, with two strangers showing up – the car’s owner, and its next buyer. Electric cars were sold on sales boards as if the loss of value for used cars did not apply to them.
At first glance, this affluence continues. According to the Licensing Bureau data, from the beginning of 2024, electric cars accounted for 25% of the new car market, with 25.8 thousand such cars on Israeli roads out of 104 thousand new cars in total. A larger market share than in Europe and twice as much as in the USA, although only half of that in the Chinese market.
But this is a continuation of a past wave, mainly in cars released from customs before the last purchase tax increase, and need to be sold. In some cases, these are cars that have come close to being “aged” – the importer’s obligation to register them as used cars once they have been in the country for more than 12 months and have not been sold.
Almost 30% of the cars sold this year were registered in the name of leasing companies, while the penetration rate of electric cars into the institutional market was low last year by more than 10%. Even if there is additional growth this year, a large portion of these cars were purchased in advance to be immediately sold on the 0 km routes of the leasing companies, where it is possible to buy new cars from them at a significant discount from the importer’s price list, with the buyer being the second hand after the leasing company.
Industry experts estimate that the market share of electric cars at the end of the year will be lower than the current one. “The cars being sold now, even before the discounts, were mostly released from customs duty according to the old purchase tax, and will be more expensive by about NIS 10,000 and above as soon as new shipments arrive,” says a senior market figure. “In addition, the government has decided to abandon all its commitments to reducing pollution emissions, hitting this golden market with one decree after another: raising the purchase tax, canceling the discounted vehicle license fee from 2025, and advancing towards a mileage tax in 2026. Treasury officials claim that this will not affect the growth in electric car sales, they claim and are wrong. It already affects now, just like canceling benefits slows down electric car sales abroad.”
But in the meantime, there are some interesting opportunities in the market right now, with 2024 electric cars being sold for NIS 200,000 or less, and some even with discounts of up to NIS 40,000 and up to 20% off the importer’s price list. Here are ten such opportunities.
Kia Niro Plus Electric, the facelift version of the original Niro (64 kWh, 427 km), is offered with zero kilometers by the importer for NIS 160,000, a NIS 40,000 discount from the list price of NIS 200,000.
The MG5 electric station wagon (61 kWh, 380 km) is offered with 0 kilometers by leasing companies for NIS 130,000, reflecting a discount of NIS 28,890 from the importer’s list price of NIS 158,880.
The refreshed MG ZS EV crossover (70 kWh, 440 km) is offered with 0 kilometers by leasing companies for NIS 137,000, reflecting a discount of NIS 21,890 from the list price of NIS 158,888.
The MG4, the compact electric family with rear-wheel drive (64 kWh, 435 km), is offered with 0 kilometers by leasing companies for NIS 137,000, a NIS 15,890 discount from the importer’s list price of NIS 152,880.
The EVEASY Limo: the Chinese electric sedan family (60 kWh, 450 km) is now offered on promotion by the importer freesbe for NIS 152,000, a NIS 13,000 discount from the list price of NIS 165,000. Price includes a home charing station.
The Hyundai Kona EV, the electric version of the manufacturer’s previous crossover generation (39 kWh, 305 km), is offered by leasing companies with zero kilometers for NIS 140,000, a discount of NIS 12,000 from the importer’s list price of NIS 152,000.
BYD Sil, the Chinese-managed Sudan (82.5 sq., 570 km), is offered on routes of 0 km in leasing companies for NIS 205,000, reflecting a discount of NIS 11,500 from the list price of a new one without previous ownership – NIS 217,000.
ORA 03 (formerly Fanki Cat), the Chinese crossover with the small battery version (47.7 sq., 310 km), is offered by the importer Colmobil at 0 km routes, for NIS 127,000, a discount of NIS 11,000 from the list price of NIS 138,000.
BYD Dolphin, the smaller sibling of the ATTO 3 (60 sq., 427 km), is currently offered at a NIS 3,000 discount at the importer Shlomo Motors, and at NIS 134-135,000 in 0 km leasing routes, reflecting a discount of about NIS 10,000 from the list price (NIS 144,000).
BYD ATTO 3, the Chinese electric crossover (60.5 sq., 420 km), is offered in 0 km deals at leasing companies in the basic finish level for NIS 160,000, reflecting a discount of NIS 8,500 – NIS 168,500.
