Key Market Indicators
Venezuelan vehicle registration saw a significant surge in 2019, reaching nearly 4,500 units. This marks a 116.6% increase compared to the previous year, when registrations stood at approximately 2,080 units. Despite this recent uptick, the Venezuelan market has experienced a long-term decline, decreasing by 28.3% year on year since 2010. Conversely, vehicle production in Venezuela has been on a downward trend. In 2017, production fell to around 1,770 units from 2,850 units in 2016, registering a 37.8% year-on-year decrease. The long-term outlook is even more stark, with the Venezuelan supply plummeting by 55.7% annually since 2004.
