Vehicle production in recession-hit Venezuela fell 72.5% last year to just 19,759 units, national automakers organisation Cavenez said, the worst output on record.
A Reuters report noted that, like other private businesses in Venezuela, carmakers have said the socialist government’s currency controls have stopped them from importing essential components due to restrictions and delays in purchases of dollars.
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Sales of new cars fell 76% from 2013 to just 23,707 units, Cavenez added in a report.
Automobiles are just one sector of many clamoring for the release by President Nicolas Maduro government of more dollars for imports. Maduro says unscrupulous businessmen exaggerate their needs so they can sell dollars on the black market for profit.
Fiat Chrysler Automobiles, Ford, General Motors, Toyota, Iveco, Mack and Mitsubishi Motors all operate in Venezuela.
Various carmakers have suspended or slowed output at times due to parts shortages, labour disputes and the national economic slowdown. Car output in Venezuela reached a record 172,418 units in 2007, Reuters noted.
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