Bearish Market Sentiment Remains
Vehicle sales and production in Venezuela dropped considerably in the first seven months of 2013, in line with our bearish market outlook. We expect the market to contract further over the course of the year.
Sales Remain Weak
Vehicle sales in Venezuela declined 16.1% year-on-year (y-o-y) in the first seven months of the year, to 65,966 units. We hold a bearish outlook for consumer sentiment, and maintain our forecast for a 19% decline in the market in 2013.
|Sales Continue To Drop Off|
|Venezuela Monthly Vehicle Sales, units|