Improved Trade Relations Bode Well For Autos But Risks Remain

Vehicle sales and production in Venezuela continued a downward trend in Q111, falling 7.2% year-on-year (y-o-y), to 25,790 units, and 1.8% y-o-y, to 24,223 units respectively, according to estimates from the country's auto association Cavenez. BMI, however, stands by its forecast of a positive year for both sales and production in 2011, mostly on the back of the low base effects from the last three consecutive years of contraction.

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