Flash Reports

Venezuela: car industry outlook

The light passenger vehicle industry in Venezuela hit by financial crisis, declined at 63.000 units in the 2003. Since 2004 a dramatic recover moved the market up to 491.000 units in the 2007, when the country was in the Top 25th global car industry ranking. However the next global financial crisis started in 2008, reduced Venezuela’s exports and hit national consumptions. The following huge inflation and high interest rates further negatively affected the car industry that declined for four consecutive years, with the lowest data achieved in the 2011.

Indeed, as reported by focus2move.com, cars registered in Venezuela during the 2011 were only 120.000 units, a small number compared with population, the sixth South American cars industry and 76% lower than 2007 record year.

The new global crisis, started in the second half 2011 will have effects on Venezuela’s car industry as well as low local economic growth. For next years it is foreseen a market still depressed at actual level, with potential growth achievable from 2014.

Meanwhile, the 2012 started with a positive trend and with a year to date February sales of 18.001 units, 16% up on previous year.

The competition is dominated by American Brands, with Chevrolet dominating the race, with 39.4% market share, year to date February 2012. It is followed by Ford at 11.6% and Toyota at 9.5%.

Below the Top 10 Brands, YTD February 2012:

Rank

Brand

Ytd February     2012

Share

1

Chevrolet

7.086

39,4%

2

Ford

2.097

11,6%

3

Toyota

1.716

9,5%

4

Hyundai

883

4,9%

5

Jeep

799

4,4%

6

Peugeot

725

4,0%

7

Mitsubishi

692

3,8%

8

Mazda

648

3,6%

9

Kia

567

3,1%

10

Fiat

496

2,8%

Chevrolet Aveo is confirming the market leadership conquest last year. Year to date February it has 15.6% market share. Chevrolet Cruze follows at 5.6%, with a great jump from the 22th position achieved in full year 2011. Ford Fiesta is third at 5.1%. In the top 25 models, it is notable the escalade of Peugeot 207 (from 28th last year to 7th so far this year), Mazda BT-50 (from 31th to 11th) and Fiat Siena (from 27th to 14th). Negative performance for Ford F350 (from 3rd to 9th), Chevrolet Optra (from 4th to 12th) and Jeep Gran Cherokee (from 5th to 13th).

Below the Top 25 Models ranking, Year to Date February 2012:

Rank

Brand

Model

Ytd February 2012

Share

February 2012

Share

2011 Ranking

1

Chevrolet

Aveo

2.800

15.6%

1.795

15.4%

1

2

Chevrolet

Cruze

1.001

5.6%

653

5.6%

22

3

Ford

Fiesta

913

5.1%

803

6.9%

2

4

Chevrolet

C3500

797

4.4%

651

5.6%

8

5

Toyota

Corolla

785

4.4%

430

3.7%

7

6

Chevrolet

Luv

775

4.3%

522

4.5%

11

7

Peugeot

207

725

4.0%

459

3.9%

28

8

Mitsubishi

Lancer

692

3.8%

544

4.7%

6

9

Ford

F350

667

3.7%

579

5.0%

3

10

Toyota

Fortuner

649

3.6%

367

3.2%

13

11

Mazda

BT-50

648

3.6%

338

2.9%

31

12

Chevrolet

Optra

562

3.1%

354

3.0%

4

13

Jeep

Grand  Cherokee

523

2.9%

424

3.6%

5

14

Fiat

Siena

496

2.8%

222

1.9%

27

15

Chevrolet

Silverado

450

2.5%

331

2.8%

12

16

Hyundai

Elantra

444

2.5%

248

2.1%

10

17

Hyundai

Getz

439

2.4%

226

1.9%

9

18

Dodge

Caliber

395

2.2%

250

2.1%

24

19

Volkswagen

Space Fox

321

1.8%

179

1.5%

-

20

Ford

Explorer

305

1.7%

197

1.7%

15

21

Chevrolet

NPR

303

1.7%

218

1.9%

25

22

Kia

Sportage

302

1.7%

118

1.0%

18

23

Toyota

Hilux

282

1.6%

168

1.4%

23

24

Jeep

Cherokee

276

1.5%

257

2.2%

16

25

Kia

Rio

265

1.5%

192

1.6%

17

 

If you would like to download the attached file, you can see the following charts:

1. Venezuela car industry (2002-2011)

2. Venezuela car trend since January 2011

3. Venezuela monthly trend since January 2010

4. Venezuela car industry forecast to 2015

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