Venezuela market report. November 2016

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Venezuelan Cars Market in November was in freefall due to the technical default of state-owned oil enterprise. Toyota was 2nd despite the huge sales losses, while the Ford F250 shined.

Market Outlook

The oil-producing states have welcomed the outcome of the 30 November meeting to cut output for the first time since 2008, the news does not offer much hope for the South American country against a backdrop of declining oil output and little chance that prices will return to the highs reached during the commodity super cycle. The state-owned oil enterprise was declared in technical default after failing to meet bond payments in November.

Following the collapse in double digit of October, the new cars market in November posted one of the highest decline of the 2016, reaching the 18th y.o.y. drop down in a row.

According to data released by the CAVENEZ, the local association of car manufacturers, the sales in October and November had been 236, respectively down 60.9% and 81.6%.

Year to date the total vehicles sales had been 2.834, down 82.0% compared to the same period of the last year.

Competitive Arena

Year to date November, Ford  was again on top with 2.106 sales (-0.7%) and 74.3% of market share ahead of Toyota with 311 (-90.8%) and Scania with 129 units.

As far as the best-selling models performance, the Ford Explorer retained the first place with 750 sales (+28.0%) followed by the Ford Ecosport with 448 (-5.7%), the Ford F250 with 306 (+118.6%), the Ford Fiesta with 247 (+18.2%) and the Ford F350 with 246 (-58.8%).

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.

Rank NovRank 2016BrandSales NovSales 2016Var NovVar 2016Share NovShare 2016
11Ford1062.106-59,1%-0,7%44,9%74,3%
22Toyota103311-23,1%-90,8%43,6%11,0%
33Scania2712911,4%4,6%
46Iveco-75-87,3%2,6%
44Mitsubishi-91-97,3%3,2%
48Mercedes-7-92,8%0,2%
47Chevrolet-33-99,3%1,2%
45Mack-792,8%
49Audi-3-66,7%0,1%

Rank NovRank 2016ModelSales NovemberSales 2016Variation 2016Variation YTD 2016
17Toyota Fortuner47125-44,0%-91,1%
28Toyota Corolla3660-95,0%
31Ford Explorer30750-76,2%28,0%
42Ford Ecosport26448-40,9%-5,7%
54Ford Fiesta2224729,4%18,2%
66Toyota Hilux20126-60,0%-81,9%
73Ford F25014306-30,0%118,6%
75Ford F35014246-75,4%-58,8%