Universal Motors Israel Ltd

Universal Motors Israel Ltd (UMI) is an Israeli public company engaged in the import and distribution of private and commercial vehicles. It serves as the exclusive Israeli representative for General Motors and Isuzu vehicle manufacturers. The company also holds activities in leasing and car rental under the Avis brand in Israel. UMI was formed in 1993 through the merger of Leo Goldberg Ltd, then owned by the Kardan Group, and the Company for the East for Cars and Trade Ltd, owned by the Eini family. Both companies were distributors of General Motors vehicles in Israel, and GM itself held a 10% stake in the merged entity until selling it in 2013. The company began by marketing nine vehicle brands, including Oldsmobile, Pontiac, Chevrolet, GMC, Buick, Opel, Saab, and Isuzu. Its best year was 1995, with revenues exceeding 2 billion shekels and net profit of 60 million shekels, selling nearly 19,000 cars. Over the years, UMI faced challenges from changing exchange rates and competition, particularly with the Chevrolet Cavalier. In the 21st century, it adapted to GM's acquisition of Daewoo Motors in 2001, marketing Daewoo-origin vehicles under the Chevrolet brand. The company lost the Opel franchise in 2010 to Shlomo Group, and later the franchise moved to Lubinski Group in 2019. In 2016, the Eini family completed the purchase of Kardan Israel's 46.1% stake for about 398 million shekels, and in 2017 acquired former CEO Avihu Ben-Nun's 3.9% stake for 31 million shekels. In 2017, UMI issued bonds on the Tel Aviv Stock Exchange worth over 1 billion shekels. In 2018, the Eini family sold 25% to Comasco, owned by businessman Haim Danon, and later another 25% at a valuation of about 900 million shekels. In September 2025, the company became public with a capital raise of 675 million shekels at a post-money valuation of 3.375 billion shekels.

Universal Motors Israel Ltd (UMI) was established in 1993 as a merger between Leo Goldberg Ltd, then owned by the Kardan Group, and the Company for the East for Cars and Trade Ltd, owned by the Eini family. Both companies were distributors of General Motors vehicles in Israel, and GM held a 10% stake in the merged company until 2013. The Company for the East for Cars and Trade was founded by Hezekiah Eini in 1946. Eini entered the automotive business in the 1930s in his native Iraq and continued after immigrating to Israel. Over the years, his sons Shlomo and Morris (Moshe) joined the business. The company was an importer of British Vauxhall Motors vehicles, owned by General Motors, as well as Oldsmobile cars. In the 1950s, a small Vauxhall served as David Ben-Gurion's official car, replacing a Chrysler at his request. The company had showrooms in Tel Aviv, Haifa, and Jerusalem. Dominant models were the Vauxhall Victor and Vauxhall Viva. In 1962, the Company for the East sold 350 Vauxhall vehicles. Later, it began importing Oldsmobile cars and buses and trucks under the Bedford brand. In 1972, it sold about 600 vehicles. In the 1980s, the company also began importing Rover Group vehicles. Leo Goldberg was born in Minsk in 1898, studied mechanical engineering, moved to Germany, and entered the car trade. In 1933, he immigrated to Israel and established the first modern garage in the Tel Aviv area, on Petah Tikva Road near the fields of the Sarona colony. He later opened an agency for importing Chevrolet vehicles, a GM-owned brand. In the 1960s, he began importing the American Buick and German Opel brands, both owned by GM, and vehicles of the British Morris brand manufactured by British Motor Corporation. In 1966, Goldberg, with partners, inaugurated the "Grosenberg Parking Lot" in the Nahalat Binyamin neighborhood of Tel Aviv, the first multi-story parking lot built in Israel, including a garage and gas station. In 1969, Leo Goldberg entered negotiations to establish an Opel assembly plant in Israel. In 1971, Leo Goldberg inaugurated its new central garage at 57 HaMasger Street in Tel Aviv. In the early 1980s, an Opel importer in Gaza began selling vehicles in Israel at a lower price than Leo Goldberg; the company petitioned the Ministry of Transport and the Gaza importer was banned from selling in Israel. Leo Goldberg died in December 1971, and the company passed to his daughters. In 1987, the daughters separated the company's businesses, with daughter Shlomit Margalit receiving ownership of the car agency, managed by Goldberg's son-in-law Rafi Margalit and grandson Eitan Margalit. In the late 1990s, Leo Goldberg suffered a decline in sales after its main brand, Opel, struggled against Japanese manufacturers and due to changes in the Deutsche Mark to shekel exchange rate. The Margalit family sought to sell the company. Among those interested in buying was the Eini family, owners of the Company for the East. However, in July 1989, a group of diamond dealers including Yosef Grinfeld, Avner Shnor, and Eitan Rechter, along with Shevach Ophir, formerly accountant of the Ko'ach Industries conglomerate, bought the company. They also sought to buy the BMW agency in Israel, but this did not materialize. In 1991, they acquired the holding company Kardan Israel Group, through which they held Leo Goldberg's businesses. Simultaneously, negotiations began with the Eini family on merging GM's import activities in Israel into one company. GM also supported the move. In July 1992, immediately upon his release from the IDF, former Air Force Commander Avihu Ben-Nun was recruited to the Kardan Group. At the end of 1993, an agreement was reached with the Eini family to establish the joint company "Universal Motors Israel." Ben-Nun was appointed CEO and received 5% of the company's shares upon his appointment (the other shareholders at the time were the Eini family 45%, Kardan Israel 40%, and General Motors 10%). The company began marketing Japanese Isuzu vehicles in Israel (a company in which GM had partial ownership), and Swedish Saab vehicles (in which GM held 50% ownership at the time), totaling 9 vehicle brands: Oldsmobile, Pontiac, Chevrolet, GMC, Buick, Opel, Saab, and Isuzu. The company's best year was 1995, with revenues exceeding 2 billion shekels and net profit of 60 million shekels. That year it sold nearly 19,000 cars, the best-selling being the Chevrolet Cavalier, marketed as an American car at a price not significantly higher than quality Japanese family cars. In 1995, 5,289 vehicles were delivered (it was the 5th best-selling car in Israel that year), and in 1996, 3,905 vehicles were delivered (9th place in the Israeli car market). However, the Cavalier suffered from quality problems, and changes in the dollar exchange rate also hurt the company's competitiveness. In 1996, the company's sales fell, delivering 13,924 vehicles, and in the following years sales continued to decline. In the 21st century, in 2001, General Motors acquired the bankrupt Daewoo Motors. Universal Motors began marketing vehicles originally manufactured by Daewoo in Israel under the Chevrolet brand. In 2004, the company's sales grew by about 50%, marketing about 13,000 vehicles. In 2005, the company began marketing the American Hummer in Israel. The company sold 50 vehicles within two months of launch. It later sold several dozen vehicles annually until production ceased in 2009. In 2010, General Motors transferred the Opel brand marketing franchise from Universal Motors to Shlomo Group, after the Universal Motors Group neglected the brand's marketing in Israel and Opel management decided to seek another importer. In 2019, the import franchise again passed from Shlomo Group to Lubinski Group, importer of Peugeot Citroën, after Opel was sold to the Peugeot-Citroën Group in August 2017, and a decision was made to transfer the franchise in Israel as part of the merged group's international marketing reorganization. In early November 2016, the Eini family completed the purchase of its partner Kardan Israel's shares (46.1%) for about 398 million shekels. In April 2017, the Company for the East also bought the holding of former CEO Avihu Ben-Nun, who still held 3.9% of the shares, for 31 million shekels, a price reflecting a company value of about 800 million shekels. In June 2017, it conducted an initial public offering of bonds on the Tel Aviv Stock Exchange, worth more than 1 billion shekels, through an exchange offer for bonds of UTS (a subsidiary of the group). In February 2018, the Eini family sold 25% of Universal Motors to Comasco, owned by businessman Haim Danon. In September 2018, Danon bought another 25% of the company at a valuation of about 900 million shekels. In September 2025, the company became a public company, with a capital raise of 675 million shekels at a post-money valuation of 3.375 billion shekels.

• 2025

  Company becomes public with capital raise of 675 million shekels at post-money valuation of 3.375 billion shekels.

• 2018

  Eini family sells 25% to Comasco; later another 25% at valuation of about 900 million shekels.

• 2017

  UMI issues bonds on the Tel Aviv Stock Exchange worth over 1 billion shekels.

• 2016

  Eini family completes purchase of Kardan Israel's 46.1% stake for about 398 million shekels.

• 2010

  Opel franchise transferred from UMI to Shlomo Group.

• 2001

  General Motors acquires Daewoo Motors; UMI begins marketing Daewoo-origin vehicles under Chevrolet brand.

• 1995

  Best year with revenues over 2 billion shekels and net profit of 60 million shekels; sold nearly 19,000 cars.

• 1993

  Universal Motors Israel established through merger of Leo Goldberg Ltd and Company for the East for Cars and Trade Ltd.

• 1946

  Company for the East for Cars and Trade founded by Hezekiah Eini.

Exclusive importer and distributor of General Motors and Isuzu vehicles in Israel, with additional leasing and rental operations under Avis.

• Chevrolet vehicles

  Imported and distributed by UMI in Israel.

• Isuzu vehicles

  Imported and distributed by UMI in Israel.

• Avis car rental

  Car rental and leasing operations under the Avis brand in Israel.

1. 1Universal Motors Israel Ltd - Wikidatawikidata.org
2. 2יוניברסל מוטורס ישראל - Wikipedia (Hebrew)he.wikipedia.org