Venezuela: Contraction in car sales sharpens in November
December 9, 2016
Car sales in Venezuela recorded a steep 81.8% contraction from the same month last year and totaled 2365 units in November, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela). November’s reading represented a sharper contraction than the 61.7% drop recorded in the previous month and marks the 17th consecutive contraction.
In the 12 months up to November, car sales reached just 4,303 units, which is the lowest print on record. November’s result represented a sharp 80.9% decline from the same period the previous month (October: -77.7% year-on-year). Car sales currently total just a small fraction of the peak of 491,899 units recorded in calendar year 2007.