Venezuela: Contraction in car sales sharpens in December
January 17, 2017
Venezuelan car sales recorded a steep 88.1% contraction from the same month of the previous year and totaled 175 units in December, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela). December’s reading represented a sharper contraction than the 81.8% drop recorded in the previous month and marks the 18th consecutive contraction.
In the 12 months up to December, car sales reached just 6,012 units. December’s result represented a sharp 65.8% decline from the same period the previous month (November: -65.8% year-on-year).