Venezuela’s National Assembly is set to outlaw profiteering in the country’s auto industry next week, according to the Bolivarian News Agency.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


The measure aims to end the practice of dealerships inflating the price of new cars far above the price set by domestic manufacturers, the agency reported.


The move has been prompted by a shortage of cars in the face of high consumer demand.


Reports say that reduced domestic production due to a shortage of foreign currency to pay for imported parts has caused market demand to outstrip supply.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now