Venezuela: Contraction in car sales softens in February
March 7, 2017
Car sales recorded a steep 33.8% contraction from the same month of last year and totaled 215 units in February, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela). February’s reading represented a softer contraction than the 59.4% drop recorded in the previous month and marked the softest decline in 18 months.
In the 12 months up to February, car sales reached just 5,672 units, a record low. February’s result represented a sharp 65.2% decline from the same period the previous month (January: -66.6% year-on-year).