Venezuela: Car sales decline in April
May 9, 2017
Car sales dropped 19.7% year-on-year in April. Sales remain minimal, with only 224 units shifted in the same month, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela). With the government limiting imports and consumers’ purchasing power having fallen off a cliff, car sales have rapidly declined in recent years, meaning small variations in absolute numbers lead to large percentage changes. Aprils’ reading was in contrast to the 35.0% expansion recorded in March, which marked the first expansion since June 2015.
In the 12 months to April, car sales reached just 4,675 units, down 61.9% year-on-year.