New car sales in Venezuela fell 26% in October compared with the same period a year ago amid a sharp economic slump, the Venezuelan Automobile Chamber (CAVENEZ) reported on Thursday, according to Reuters.
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A total of 6,152 cars were sold last month compared with 8,355 units sold in October 2002 – sales in September this year were 5,138 units, the report added.
According to Reuters, CAVENEZ said accumulated sales during the first 10 months of 2003 fell by 58% to 49,165 cars from 118,247 units sold in the same period last year.
Reuters noted that nearly two years of political turmoil and a steep economic downturn have severely undercut consumer spending and hit domestic car sales hard while a two-month opposition strike in December and January and strict currency restrictions introduced in February have also hampered sales in the world’s No. 5 oil exporter.
