Venezuelan car sales were up 74% in May thanks to a strong economy linked to oil revenues, and low domestic fuel prices.

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Monthly sales totaled 25,592 units, bringing year-to-date sales to 111,549, up 45.59%.


Industry group CAVENEZ only issues data relating to companies that assemble vehicles in the country, but those companies are also the major importers and they account for the majority of sales. Assembly figures for May have not yet been released.


According to Reuters, Venezuela’s economy grew 9.4% in the first quarter of 2006, supported by high global oil prices and high government spending by President Hugo Chavez.


While global oil prices are high, Venezuelans currently only pay around 12 cents for a gallon of petrol, or less than $2 for a whole tank full of fuel.

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