Government Regulation Offers Little Respite For Plummeting Output

Auto production in Venezuela fell over 20% year-on-year (y-o-y), to 43,057 units, in the first five months of 2010, testifying BMI's view there will be little let-up for the country's declining vehicle output in the short term. Given that the present drop comes on the back of a 17.4% reduction in output last year compared with 2008, we maintain our forecast of at least a 15% y-o-y fall this year.

To read the full article, please choose one of the following options: