Car production down 18.11 percent in the first quarter

http://english.eluniversal.com/2010/04/07/en_eco_art_car-production-down_07A3705053.shtml

Production of vehicles in Venezuela fell 18.11 percent in the first quarter of the year compared to the same period in 2009, the Venezuelan Automobile Chamber (Cavenez) reported.

During the first three months of the year, the Venezuelan industry assembled 28,087 vehicles, about 6,211 cars less than last year. This decline, coupled with import restrictions approved by the Venezuelan government, has further limited car supply in the domestic market.

Declining authorization and delivery of foreign currency by the Foreign Exchange Administration Commission (Cadivi) to the seven assembly plants based in Venezuela, delays in permits for imports of assembly parts and labor conflicts are the reasons put forward by industry leaders to explain the fall in production in the automotive sector.

Many of the assembly plants considered that there would be a potential recovery this year. However, some sources dared to predict a third consecutive year of decline in car production, following the falls recorded in 2008 and 2009.