Venezuela: Car sales rise in March
April 10, 2017
Car sales increased 35.0% year-on-year in March, putting a stop to almost two years of hefty monthly declines. However, sales remain minimal, with only 293 units shifted in March, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela). With the government limiting imports and consumers’ 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. March’s reading was in contrast to the 33.8% contraction recorded in February.
In the 12 months to March, car sales reached just 5,748 units, down 54.7% year-on-year.