Venezuela 2017 Auto sales disappeared in the chaos

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Venezuelan Auto Market in the 2017 has lost 18% reaching a level just over the 2.000 units – from 122.000 in the 2012 – while the country slides into chaos, following the decision to redraw the current Constitution.

Venezuelan economy remains stuck in an economic meltdown. According to opposition lawmakers, inflation skyrocketed to 2,616% last year, with hyperinflation seen in December as consumer prices rose 85% month-on-month. The currency nosedived passed 150,00 VEF per USD on the black market as of 9 January, and persistent basic goods and medicine shortages have provoked a humanitarian crisis. The government raised the minimum wage by 40% at the start of 2018, but the increase still puts the amount at around USD 2.0 per month at the black market exchange rate, doing little to shore up decimated private consumption.

Venezuelan auto market had been the third largest in South America few years ago, before than the economy was destroyed by dictatorships. Just in the 2012 the market declined at 126.000 units, but in the following five years it dropped to near zero. Indeed according to data released by the CAVENEZ, the local association of car manufacturers, in 2017 total vehicles sales have been 2.461, down 18.0%.

Sales 2012Sales 2013Sales 2014Sales 2015Sales 2016Sales 2017Sales 2018 e
Car+LCV126.01190.00419.74116.5552.7022.4092.753
HCV5838.8354.5076792995260
Total126.59498.83924.24817.2343.0012.4612.813
2012 Var2013 Var2014 Var2015 Var2016 Var2017 Var2018 var e
Car+LCV5,1%-28,6%-78,1%-16,1%-83,7%-10,8%14,3%
HCV-28,5%1415,4%-49,0%-84,9%-56,0%-82,6%15,0%
Total4,9%-21,9%-75,5%-28,9%-82,6%-18,0%14,3%
Rank 2017Rank 2016BrandSales 2017Sales 2016Variation 2017Share 2017Share 2016
11Ford1.8922.170-12,8%63,4%72,3%
22Toyota840386117,6%28,2%12,9%
34Mack8695-9,5%2,9%3,2%
43Scania54129-58,1%1,8%4,3%
58Dodge331972,9%1,1%0,6%
66Iveco3275-57,1%1,1%2,5%
710Jeep28-#DIV/0!0,9%0,0%
87Chevrolet733-79,1%0,2%1,1%
85Mitsubishi791-92,4%0,2%3,0%
99Audi3315,0%0,1%0,1%
Rank 2017Rank 2016Sales 2017Sales 2016Variation 2017
17Toyota Hilux586154280,5%
21Ford Explorer523771-32,2%
36Toyota Fortuner414158162,0%
43Ford F-Series206311-33,8%
525Jeep Grand Cherokee144
611Toyota Corolla1237466,2%
74Ford Fiesta122265-54,0%
82Ford Ecosport121464-73,9%
95Ford F35070249-71,9%
1017Ford Cargo 8155813346,2%
1110Mack Granite5295-45,3%
1215Dodge Forza1519-21,1%
139Ford Cargo 1721297-97,9%