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Minister: Don’t Buy New Cars! Prices to Drop

Transportation Minister tells Israelis not to buy new cars. ‘Wait until we break import monopoly.’
By Maayana Miskin
First Publish: 4/30/2013, 4:58 PM

New cars
New cars
Israel news photo: Flash 90

Transportation Minister Yisrael Katz has issued a call to all Israelis not to buy new cars at the present time.

“Right before the car price revolution begins, my message to you is: don’t buy new cars until the prices drop!” Katz said Tuesday.

“Talk to your families and friends and tell them, too,” he added.

During its meeting Sunday the Cabinet approved a reform in the car industry. “Soon, when the legislation is complete, there will be open competition in the branch between the current importers – who currently enjoy a monopoly – and new importers,” Katz explained. “Everyone will need to lower their prices to compete.”

“This will help bring down the cost of living in the second most important area, right after the cost of housing,” he said.

He called to avoid new purchases of cars “until the importers lower the prices and give you, too, the discounts that they give the leasing companies… Just to help make things clear, the scope of yearly car imports in Israel stands at 30 billion shekels, which is split up between 15 families of importers.”

“This is your time, citizens of Israel, to prove to the importers that the party is over, that the bloated earnings at the public’s expense are over,” Katz said. “Like with the ‘Open Skies’ reform, I promise that with this car reform I will keep it going until every Israeli citizen feels the difference, and I will not give in to pressure, strikes or threats.”