Venezuela: Car sales deteriorate in August
September 11, 2015
Annual car sales fell 30.6% over the same month last year and totaled 1,167 units in August, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Camara Automotriz de Venezuela). The reading was a deterioration from July’s 8.8% contraction.
In the 12 months up to August, car sales reached 25,790 units, which was 28.5% lower than the same month of last year (July: -38.4% year-on-year). Car sales currently total just a fraction of the peak of 491,899 units recorded in calendar year 2007. Extreme supply shortages due to government restrictions on both assembly plants and importers have severely hampered sales of vehicles in recent years.