Venezuela: Car sales remain minimal in May despite increase
June 8, 2017
Car sales rose 10.3% year-on-year in May but sales remain minimal, with only 279 units shifted in that month, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela). With the government limiting imports and consumer 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. May’s reading was in contrast to the 19.7% decline recorded in April.
In the 12 months to May, car sales reached just 4,701 units, down 57.2% year-on-year.