Venezuela: Car sales plummet in September
October 9, 2015
Annual car sales fell 67.6% over the same month last year and totaled 621 units in September, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Camara Automotriz de Venezuela). The reading was a sharp deterioration from August’s 30.6% contraction.
In the 12 months up to September, car sales reached 24,494 units, which was 19.3% lower than recorded through the same month of last year (August: -28.5% 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.