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Israeli Auto Dealer Buy & Drive to Sell Fleet at Online Auction
An Israeli court has approved an online auction for dozens of vehicles from the car dealership Buy & Drive Holdings, which is ceasing its rental operations due to unprofitability. The company owes 97 million shekels and is selling about 95 vehicles, including Hyundai, Mitsubishi, and Renault models from 2022-2025.
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What happened
- 01Israeli court allows Buy & Drive Holdings to sell dozens of vehicles via online auction.
- 02The company is closing its unprofitable car rental division due to 97 million shekel debt.
- 03Secured creditors Carasso Motors and Colmobil hold liens on 95% of the fleet.
- 04The auction will feature approximately 95 vehicles, including Hyundai, Mitsubishi, and Renault models.
- 05The sale is scheduled for November 6 and will proceed in batches as cars are returned.
The auction is set for November 6, with sales occurring in batches as vehicles are returned.
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