Government Efforts To Boost Output Futile

Vehicle production in Venezuela fell 17.4% year-on-year (y-o-y), to 111,554 units during 2009, the Venezuelan Automobile Chamber of Commerce (Cavenez) has estimated. BMI believes the fall - which is much lower than our forecast of 146,800 units - came on the back of continuous monthly declines in production by carmakers hurt by a drop in domestic demand and a tough business environment.

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