Naperville, IL -- (SBWIRE) -- 08/19/2013 -- Reportstack, provider of premium market research reports announces the addition of Venezuela Autos Report Q4 2013 market report to its offering
Vehicle sales in Venezuela declined 15.2% year-on-year (y-o-y) in H113, to 57,280 units. This follows a
39.1% y-o-y decline in June, to 7,732 units. We hold a bearish outlook for consumer sentiment, and
maintain our forecast for a 19% decline in the market in 2013.
We believe that the poor macro picture in Venezuela will continue to impact vehicle sales over the year.
The government's currency devaluation in February will pose a considerable upside risk to inflation, hike
interest rates for vehicle loans, and make vehicle imports more expensive, thus eroding consumers'
purchasing power and affecting sales volumes. We expect this to continue to filter through to consumer
sentiment over the course of the year.
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