A total of 13,583 cars
were sold last month, versus 6,152 units
in October of 2003, CAVENEZ said. The
October figure also surpassed September
sales of 12,595 units. Sales for the
January-October period this year rose
to 100,979 units from 49,165 sold during
the first 10 months of 2003.
Oil-rich Venezuela is
pulling out of nearly two years of economic
decline triggered by political conflict
over the rule of President Hugo Chávez,
who survived a brief coup in 2002 followed
by a general strike. The President won
a recall referendum on his rule in August,
which ratified his mandate until early
2007.
Government officials forecast
soaring world oil prices and a more
stable political climate will propel
the economy to grow about 11 percent
this year and five percent next year
after a 7.6 percent contraction in 2003.
The boom in the local
car market is encouraging foreign auto
manufacturers to expand their sales
in Venezuela. Italy's Fiat said last
month it planned to resume car assembly
operations in the South American nation
from early 2005 after a six-year absence,
taking advantage of government incentives.
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, Toyota de Venezuela.
The figures represented
total vehicle sales in Venezuela, and
included car models made by CAVENEZ
non members, such as Mazda Motor Corp.
and Volkswagen".
