Venezuela: Car sales rebound in June
July 8, 2015
Annual car sales rose 73.0% over the same month last year and totaled 1,884 units in June, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Camara Automotriz de Venezuela). The reading contrasted May’s 41.7% contraction.
In the 12 months up to June, car sales reached 26,443 units, which was 46.9% lower than the same month of last year (May: -54.6% 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.