Oil Wealth Boosts Car Market

June 2006 | Industry Forecast

The Venezuelan automotive market has continued to shown signs of vigorous recovery in 2005, as currency restrictions are relaxed further. Manufacturers have been freed up to try and regain some of their pre-general strike momentum and as a result, production in 2005 was almost 40% higher than 2004. We had revised our forecast for the year upwards in our last report, although we pitched our projection a little high at 159,100 units, compared with the actual total of 154,961 units. Going forward we would expect growth to remain strong but somewhat slower, as the market is currently very much in

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