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Venezuela Autos Report Q2 2008

Published by: Business Monitor International

Published: May. 1, 2008 - 41 Pages


Table of Contents


Executive Summary
SWOT Analysis
Venezuela Auto Industry SWOT
Venezuela Economic SWOT
Venezuela Business Environment SWOT
Latin America Regional Overview
Table: Toyota Regional Sales 2006 and 2007
Business Environment Rankings
Table: Business Environment Regional Rankings Table
Industry Forecast Scenario
Table: Venezuela Autos Sector - Historical Data & Forecasts
Table: Venezuela Sales Forecast Of Trucks And Buses By Vehicle Type
Table: Venezuela Production Forecast Of Trucks And Buses By Vehicle Type
Table: Venezuela Autos Sector - Historical Data And Fo
Economic Contribution
Table: Venezuela Autos Sector - Historical Data & Forecasts (CBUs unless otherwise stated)
Macroeconomic Forecast Scenario
Table: Economic Activity
Competitive Landscape
Market Overview
Table: Venezuela Vehicle Production, 2006 and 2007
Table: Venezuela Car Sales, 2006 and 2007
New Investment
Industry Developments
Commercial Vehicles
Table: Venezuela Vehicle Market By Segment, 2000-2005 (CBUs)
Table: Venezuela Vehicle Production By Segment, 2000-2005 (CBUs)
Table: Venezuela Commercial Vehicle Registrations, Domestic Production Versus Imports
Light Commercial Vehicles
Table: Venezuela Light Commercial Vehicle Registrations, Domestic Production Versus Imports, 2000-2005 (CBUs)
Table: Venezuela Light Commercial Vehicle Registrations By Manufacturer, 2000-2005 (CBUs)
Table: Venezuela Light Commercial Vehicle Production By Manufacturer, 2002-2005 (CBUs)
Table: Venezuela Light Commercial Vehicle Market Shares, 2004-2005 (%)
Heavy Commercial Vehicles
Table: Venezuela Heavy Commercial Vehicle Registrations By Manufacturer, 2000-2005 (CBUs)
Table: Venezuela Heavy Commercial Vehicle Registrations, Domestic Production Versus Imports, 2000-2005 (CBUs)
Table: Venezuela Heavy Commercial Vehicle Production By Manufacturer, 2002-2005 (CBUs)
Table: Venezuela Heavy Commercial Vehicle Market Shares, 2004-2005 (%)
Buses
Table: Venezuela Bus Registrations By Manufacturer, 2000-2005 (CBUs)
Table: Venezuela Bus Market Shares, 2004-2005 (%)
Company Monitor:
Renault
Table: Renault-Nissan Cooperation Agreements
Table: Renault Regional Sales, 2007
Company Profiles
General Motors (GM)
Ford
Toyota
BMI Forecast Modelling
How We Generate Our Industry Forecasts
Automobile Industry
Sources


Abstract

Venezuela's decision to limit the number of vehicle imports entering the country has had an almostimmediate effect on the new car market. As BMI reflects in the latest Venezuela Automotives Report,sales of locally-produced vehicles rose significantly during the first two months of 2008, while importsfell. The Venezuelan government continues to increase its hold on the automotive industry, which has hada knock-on effect not only on the domestic market, but also abroad in countries such as Colombia.In H207, the Venezuelan government approved legislation limiting the number of vehicle imports to219,000 units. This stance was adopted to boost local vehicle production. In line with governmentestimates, for every two cars produced in Venezuela, only one will be imported. Imports soared inVenezuela's new car market in keeping with soaring demand, which at times led to waiting times forvehicles of up to four months.

According to data from the Venezuelan automotive industry association, CAVENEZ, sales of locallyproduced vehicles rose by 71.4% in February 2008 against the same month a year ago. Total salesamounted to 28,246 units in February, of which 12,922 units were made in Venezuela. Imports totalled15,324 units, down by around 27% year-on-year (y-o-y). A significant difference also occurred betweensales reported for January and February 2008. According to the February data from Cavenez, sales ofnationally-produced vehicles were up by a significant 107.2% on the previous month. Similarly, importsin February fell by 29.4% compared to January.

As mentioned above, the restrictions placed on vehicle imports are affecting Colombia's automotivesector. For example, market leader General Motors (GM) has put its recruitment plans in theneighbouring country on hold. According to industry sources, GM's operations in the Andean region areexpected to export only 8,500 units to Venezuela this year, a significant decrease on the previouslyforecast 17,400 units. Indeed, the new legislation has affected Venezuela's standing in BMI's newBusiness Environment Ratings Index, precisely because of its harmful effect on other markets in theregion.

Other developments this quarter include the announcement by the Venezuelan government that a new100%-Venezuelan model will be unveiled in 2008, which in turn is expected to boost local vehicleproduction.


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