Venezuela Autos Report Q3 2014 - New Market Report
Vehicle sales in Venezuela declined 87.5% y-o-y, to 3,213 units, in Q114 as the increasingly poor economic outlook also impacts the demand side of the sector. Inflation is running very high, eroding consumers' purchasing power and appetite for big ticket purchases, such as new cars. High interest rates curtail demand for vehicle loans, and the ongoing weakness in the Venezuelan bolivar (and further weakness in the unofficial exchange rate) increasingly makes vehicle imports more expensive in local currency terms
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