Green Tax on Electric Cars to Rise in Israel Next Year
Translated & summarized from Maariv by baba
Car expert Odi Etzion warns that Israel's "Green Tax" will increase at the start of next year, urging drivers to import vehicles by the end of December. Internal data shows a nearly 70% jump in used electric car searches, contrasting with the new car market. This surge in demand may help stabilize electric car values, while overall vehicle imports have risen significantly, indicating economic optimism.
The story in 5 lines · by baba
- Israel's "Green Tax" on vehicles is scheduled to increase at the start of next year.
- Searches for used electric cars in Israel have surged by nearly 70%, according to car expert Odi Etzion.
- Drivers are advised to import vehicles by the end of December to avoid the upcoming tax hike.
- Vehicle imports to Israel have significantly increased this year, signaling economic optimism.
- Electric cars currently benefit from a NIS 22,000 purchase tax discount, which may be removed.
An Israeli car expert is warning drivers that the "Green Tax" on vehicles is set to increase at the beginning of next year. Odi Etzion revealed internal data from the used car website Yad 2 showing a nearly 70% surge in searches for used electric cars and a 20% rise in searches for hybrid vehicles. This trend contrasts with the new car market, Etzion noted.
Etzion suggested that this growing demand for used electric cars could potentially offset the depreciation of electric vehicles, which he linked to public anger over the loss of tax benefits on vehicle licensing. He also mentioned that electric cars currently receive a NIS 22,000 discount on purchase tax, a benefit the Ministry of Finance may be willing to eliminate.
The expert stated that the issue awaits the new government's policy, expected in January. Despite uncertainties, Etzion observed a significant increase in vehicle imports into Israel this year, with 276,000 cars entering the country so far. He interprets this as a sign of economic optimism among importers who believe these cars can be sold, contrasting with lower import numbers a year ago.
Etzion reiterated his warning that the Green Tax will rise early next year, emphasizing that any car intended for import must arrive at the port by the end of December to avoid the increased tax.
Mentioned
