Venezuela: Contraction in car sales softens in September
October 10, 2016
Car sales recorded a sharp 56.4% contraction over the same month last year and totaled 271 units in September, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela). September’s reading represented a softer contraction than the 83.4% drop recorded in the previous month.
In the 12 months up to September, car sales reached just 7,349 units, which is the lowest print on record. September’s result represented a sharp 69.5% decline from the same period last (August: -69.6% year-on-year). Car sales currently total just a small fraction of the peak of 491,899 units recorded in calendar year 2007.