May 5, 2005
Venezuelan April car sales more than double year ago

(Reuters) - "New car sales in Venezuela more than doubled in April compared with the same month a year earlier as the OPEC nation's economy maintained strong growth, the Venezuelan Automobile Chamber (CAVENEZ) said.

A total of 19,263 cars were sold last month, a 114 percent increase compared with 9,001 sold in April 2004, when the world's No. 5 oil exporter was still recovering from a two-year economic downturn triggered by political conflict.

Sales in April 2005 were also higher than the 16,849 vehicles sold in March, CAVENEZ said. A total of 61,905 cars were sold in the first four months of 2005, compared with 32,429 for the same period in 2004.

Venezuela's economic outlook has improved as high oil prices bolster growth and the country returns to political stability following President Hugo Chávez's victory in a recall referendum in August.

The gross domestic product grew 17.3 percent last year and officials expect growth of around 10 percent this year.

The companies affiliated with CAVENEZ are DaimlerChrysler AG's, DaimlerChrysler de Venezuela, Fiat SpA's, Fiat Automobiles, Fiat affiliate IVECO Venezuela, Ford Motor Co., General Motors Corp.'s, General Motors de Venezuela, Mitsubishi Motors Corp.'s, MMC Automotriz and Toyota Motor Corp.'s and Toyota de Venezuela.

The figures represent total vehicle sales in Venezuela, including car models made by CAVENEZ nonmembers, such as Mazda Motor Corp. and Volkswagen".