International Deals Will Bring Little Respite To Domestic Production

BMI expects little respite for autos production in Venezuela in the short term, despite two significant new manufacturing deals reached by the country. After nearly a 17.5% year-on-year (y-o-y) fall in autos production, to 111,554 units, during 2009, carmakers continued to operate on reduced capacities in 2010, producing 28% fewer vehicles, to 24,688 units, during Q110, indicating that the worst may not be over for the county's autos production. BMI therefore forecasts at least a 15% y-o-y fall in output this year before any improvement in regulatory and operational issues can result in positive, if any, growth in

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