Key Market Indicators
Venezuela saw a significant rise in car registrations in 2019, with numbers reaching 3,000 units. This marks a 159% increase compared to the previous year when registrations stood at 1,160 units. Despite this surge, the long-term trend shows a stark decline. Since 2010, Venezuelan demand for cars has fallen by over 22% annually. In terms of car production, Venezuela recorded a slight uptick in 2017. Production rose to 852 units, up marginally from 849 units in 2016, reflecting a 0.4% increase year-on-year. However, the broader picture is less optimistic. Since 2004, the country's car production has plummeted by 58% on a yearly basis.
