Venezuela: Car sales return to expansion in February
March 9, 2015
Annual car sales rose 59.6% over the same month last year and totaling 1,304 units in February, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Camara Automotriz de Venezuela). The reading largely contrasted the 5.4% fall recorded in January.
In the 12 months up to February, car sales reached just 24,155 units, which was 72.2% lower than the same month of last year (January: -74.8% 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.