The Carasso family built Israel's Renault, Nissan, and Infiniti import franchise from a 1899 Salonika grocery store, surviving two continents and a century to reach the Tel Aviv Stock Exchange.
The Builders | Olam.business
The Carasso family built Carasso Motors, Israel's exclusive importer for Renault, Nissan, Infiniti, and Dacia. Their business originated from a Salonika grocery store founded by patriarch Moshe Carasso in 1899. The family emigrated to Jaffa during the Fascist era, secured a Renault franchise in 1948 from a fleeing Arab importer, and established a century-long real estate and auto-import fortune estimated near $1 billion by the end of 2021.
Moshe Carasso began his business career at age 14 by running a grocery store. His descendants later established a publicly traded car company that became Israel's exclusive Renault franchise holder.
Carasso Family Business Overview
The Carasso family's business ventures trace their origins to Moshe (Moiz) Carasso, born in Salonika, Greece, on April 26, 1885. The family name preserves Carasso, a town near Lake Como, now located in Switzerland.
| Detail | Description |
|---|---|
| Founder | Moshe (Moiz) Carasso, born April 26, 1885, Salonika, Greece |
| Family origin | Name preserves Carasso, a town near Lake Como, now in Switzerland |
| Immigration to Israel | 1924, fleeing the Greco-Turkish War; settled in Jaffa |
| First auto franchise | 1933, General Motors import and distribution license, acquired from Yitzhak Arditi |
| Renault franchise | 1948, replacing an Arab Renault importer who fled the country |
| Nissan franchise | 1992; Infiniti added 2009 |
| Public listing | Carasso Motors, Tel Aviv Stock Exchange; real estate arm Carasso Real Estate remains fully family-owned |
| Market position | Approximately 8-12% of Israel's new-car market depending on year; ranked fourth or fifth among Israeli auto importers |
| Estimated family wealth | Approximately $1 billion, end of 2021 |
How did the Carasso family start their business in Salonika?
Moshe Carasso was born in the Greek port city of Salonika on April 26, 1885. At age 14, following his father's death, Moshe Carasso took over the family grocery store, expanding the business across Greece.
In 1914, Moshe Carasso married Tzipora, and they had six children: Chaim, Arie, Miriam, Bella, Benjamin, and Shlomo. The Carasso family emigrated to Mandatory Palestine in 1924, fleeing the Greco-Turkish War, and settled in Jaffa.
How did the Carasso family enter the auto import business?
Moshe Carasso acquired the license to import and distribute American General Motors vehicles from Yitzhak Arditi in 1933, establishing the company Moiz Carasso, Automobile Division. In 1945, the family founded Moshe Carasso and Sons Ltd.
His son, Chaim, who married his cousin Esther in 1940, traveled to New York to negotiate with General Motors and other manufacturers to sell their vehicles in Palestine through the family agency. Simultaneously, the family purchased spare parts, trucks, and buses from British Army surplus in Cairo for import. In 1947, Arie Carasso traveled to London and secured permission from British manufacturer Hillman for the family to import its vehicles into Palestine.
The decisive move came in 1948 when Moshe Carasso and Sons secured the license to sell Renault vehicles in the newly declared State of Israel. This replaced Renault's previous Arab importer, who had fled the country during the war. Chaim Carasso later purchased 150 dunams of land in Kfar Shmaryahu, an early instance of the real estate holdings that would become a parallel pillar of the family's wealth.
How did Carasso Motors grow into a public company?
Carasso Motors added the Nissan import franchise in 1992 and the Infiniti luxury nameplate in 2009. The company also added Dacia and, at various points, Chery and Xpeng to its portfolio.
In 2007, the group split its automotive activity into the publicly traded Carasso Motors, listed on the Tel Aviv Stock Exchange. The family's real estate arm was renamed Carasso Real Estate and remained wholly family-owned. Carasso Motors also operates the primary service and repair network for its imported brands and provides trade-in, leasing, financing, and insurance services through its captive insurance agency.
Carasso Motors appointed its first professional, non-family chief executive in mid-2004, after seventy years of continuous family management. By the end of 2018, Carasso Motors held approximately 12 percent of Israel's new-car market, ranking fourth among Israeli importers. This share settled closer to 8 percent by the end of 2020, ranking fifth.
In 2024, the company's decision to add a Chinese-manufactured gasoline nameplate to its portfolio and form a 50 percent joint venture with Shlomo Motors on the BYD electric brand was credited in the Israeli business press with rescuing Carasso Motors' sales performance during a challenging period for the group.
Why does the Carasso family matter to Israeli business history?
Few Israeli business families can trace an unbroken commercial line from a teenage grocer in Ottoman-era Salonika to a Tel Aviv Stock Exchange-listed auto importer with a national vehicle franchise for over 75 years. The Carasso Renault franchise, granted in 1948 in place of a fleeing Arab importer, directly links the family's commercial history to the founding of the Israeli state itself. This lineage is shared by few other private Israeli fortunes still operating under the founding family's direct control a century later.
Frequently Asked Questions About the Carasso Family
Who founded the Carasso family business?
Moshe (Moiz) Carasso, born in 1885 in Salonika, Greece, founded the family's commercial activity. He started as a teenage grocer and later expanded into vehicle imports in Mandatory Palestine beginning in 1933.
What is Carasso Motors?
Carasso Motors is a publicly traded Israeli company, controlled by the Carasso family. It holds the exclusive Israeli import licenses for Renault, Nissan, Infiniti, and Dacia vehicles, ranking among Israel's top five auto importers by market share.
How did the Carasso family get the Renault franchise?
In 1948, Moshe Carasso and Sons received the license to sell Renault vehicles in the newly established State of Israel. This occurred after Renault's previous Arab importer fled the country during the 1948 war.
Is Carasso Motors still family-controlled?
Yes, Carasso Motors remains family-controlled. While the company brought in its first non-family CEO in 2004 and is publicly traded, the Carasso family retains control of the automotive business and full ownership of Carasso Real Estate, its separate property arm.
More from The Builders
- Rami Ungar: Kia's Israeli Importer and Ship Owner
- George Chorev: Union Motors' Twice-Built Fortune
- Yitzhak Souary: Runs Allied Group, Owns None of It
The Olam Editorial Team | The Builders
