Global Auto Market | Middle East: August Israel Auto Sales, XPeng Hits Record
Produced by ZhiNeng Tech
In August 2024, Israel's new car market experienced a decline, with a year-on-year drop of 7.7%, totaling 22,813 units sold. The cumulative sales for 2024 so far have fallen to 203,022 units, down 8.7% year-on-year.
In such a market environment, Chinese brands have performed remarkably well.
Chinese brands sold 8,306 units in Israel in a single month, capturing a 36.4% market share.
◎ BYD(BYD) sold 1,019 vehicles in August, with cumulative sales reaching 12,890 units;
◎ Chery(Chery) sold 1,285 vehicles in August, with cumulative sales reaching 8,664 units;
◎ MG sold 69 vehicles in August, with cumulative sales reaching 5,953 units.
01
Major Automotive Brands in the Israeli Market
● Toyota(+5.1%) performed exceptionally well against the trend, solidifying its new leadership position in the Israeli market with a 14% market share.
● In stark contrast, Hyundai(-27.1%), which was the market leader last year, saw its market share plummet to 10.9%.
● Skoda(+59.4%) was one of the most outstanding performers this month, rising five places from July to rank third. This is the second time Skoda has entered the top three this year, the first being in March.
● Following Skoda, Mazda(+63.7%) also showed strong performance, closely behind.
● Tesla(-18.8%) ranked among the top five with a 5.9% market share, significantly higher than its 2.2% year-to-date average.
● Other notable performers included Chery(+60.4%), Mitsubishi(+16.4%), and Seat(+81.2%), which also secured spots in the top ten sales rankings for the month.
● The most eye-catching performance came from the Chinese new force brand XPeng, which jumped 12 places from the previous month to a record-breaking 14th position(its previous best was 24th in March this year), selling 410 units(its previous best was 301 units in January this year), with its market share rising to 1.8%(previously peaking at 1% in March).
02
The Entry of Chinese Cars into the Israeli Market: Changes and Challenges
One of the most notable highlights this month was the rise of Chinese brands, particularly XPeng's record-breaking achievements in the Israeli market.
Israel's high acceptance of electric and smart cars provides an ideal testing ground for emerging brands like XPeng. Its outstanding performance in August not only proves the success of its brand strategy but also highlights its potential for rapid global expansion.
Chery's growth is equally noteworthy, as the brand has gradually won more market share through competitive pricing and improving product quality.
In the future, the performance of Chinese brands in Israel and the Middle East will be worth watching.
Summary
Overall, Chinese automotive companies have performed very well.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
