Venezuela: Car sales contract sharply in January
February 10, 2017
Car sales recorded a steep 59.4% contraction from the same month of the previous year and totaled 157 units in January, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela). January’s reading represented a softer contraction than the 88.1% drop recorded in the previous month and marked the 19th consecutive contraction.
In the 12 months up to January, car sales reached just 5,782 units, a record low. January’s result represented a sharp 66.6% decline from the same period the previous month (December: -65.8% year-on-year).