Buying A Car In Israel | The Jewish Press – | Aviva Horowitz Karoly | 9 Av 5780 – July 30, 2020


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Back in New York, we didn’t own a car – there simply was no need. We lived near the A train subway line and thus were able to travel around the city easily without fretting about finding a parking spot.

But living in Israel is different. While Modi’in is centrally located and boasts a high-speed train line, it is a large sprawling city. Realistically speaking, we need a car to get around.

New cars in Israel are very expensive – generally more than double the cost of a car in America. While olim are offered a

China’s electric SUV maker Li Auto raises $1.1 billion in U.S. IPO – TechCrunch


Trade tensions between China and the U.S. have not stopped Chinese companies from eyeing to list on American stock exchanges. Li Auto, a five-year-old Chinese electric vehicle startup, raised $1.1 billion through its debut on Nasdaq on Thursday.

The Beijing-based company is targeting a growing Chinese middle class who aspire to drive cleaner, smarter, and larger vehicles. Its first model, sold at a subsidized price of 328,000 yuan or $46,800, is a six-seat electric SUV that began shipping end of last year.

Li Auto priced its IPO north of its targeted range at $11.5 per share, giving it a fully

Auto companies borrow industry-leading $132B to survive virus hit


The automotive industry has borrowed $132 billion since March as the spread of the coronavirus curbed demand for cars and closed factories.

The sector is the largest user of funds put in place to ease the effect of the COVID-19 pandemic.

The amount consists of $79 billion in new loans and $53 billion in drawdowns from existing credit lines. Facilities linked to the pandemic account for almost 80 percent of overall loan borrowings by the sector in the year to date.

Loans for virus relief, which peaked during the March-to-June period, eased this month to less than $100 million as

Sonic Automotive Vastly Increases Plans For EchoPark Used-Car Stores


New-car dealership chain Sonic Automotive Inc. unveiled a much more ambitious game plan for its EchoPark brand of standalone used-car dealerships.

“EchoPark continues to outperform our expectations,” said CEO David Smith, in a conference call to announce second-quarter results on July 30.

Smith said Sonic now plans to open “140-plus” EchoPark locations nationwide by 2025, up from just 10 today, and much bigger than a previously announced five-year plan of “at least 25.”

The move is part of a trend where some of the nation’s biggest auto retail