New car sales in Venezuela fell 15.3% in November from a year before amid a sharp economic slump, Reuters reported, citing figures from the Venezuelan Automobile Chamber Cavenez.
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The report said 7,409 cars were sold in November, compared with 8,749 for the same month in 2002 – 6,152 cars were sold in October and 5,138 in September.
Accumulated sales for the first 11 months of 2003 fell by 55.5% to 56,574 cars compared with 126,996 during the January-November period a year earlier, Reuters said.
The news agency noted that car sales in the South American country, the world’s fifth largest oil exporter, have been hit by nearly two years of political turmoil and a steep economic downturn that have severely undercut consumer spending. A December-January oil strike and strict currency controls introduced in February have also reduced sales.
