The automotive industry is a minor contributor to Venezuela's economy, accounting for less than 2% of GDP. The government's programmes and measures (including import restrictions) to boost domestic production have failed dismally, with strict exchange and import controls and threats of nationalisation instead leading to a collapse in manufacturing output and vehicle sales.
Domestic sales contracted sharply in 2013-14 as difficulty in accessing foreign currency resulted in a fall in imports, hampering sales of foreign cars and domestic assembly. Total vehicle sales fell by 76% in 2014, to 23,707 units, according to the Camara Automotriz de Venezuela (Cavenez). Sales are forecast to shrink further in 2015-16 and will only begin to recover in 2017-18.
A combination of ample domestic liquidity, price controls and import restrictions has given rise to an extremely unusual situation, whereby secondhand cars retail for more than new vehicles.

Automotive report 2

Overview 2

Passenger cars 3

Commercial and other vehicles 6

Production 7

Fuel sources 8

Industry publishing schedule 10

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