"Venezuela Autos Report Q3 2013" Published
Vehicle sales in Venezuela declined 22.9% y-o-y in the first quarter of 2013, to 25,639 units. On the back of these ongoing declines in sales volumes and an increasingly bearish macro picture, we forecast a decline of 25% in 2013. The country's weak consumer story could have a stronger impact on sales, however, and we caution that the risks to our sales forecast are firmly to the downside.
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