THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
Toyota is launching a new Corolla model in Venezuela and has no plans to leave the country.
Tire manufacturer Pirelli will indefinitely suspend production of tires in Venezuela due to issues related to securing supplies of raw materials.
Venezuelan government authorities took control of General Motors’ Valencia plant on April 19, seizing company vehicles and other assets. GM will cease operations in the country, effective immediately, the company announced.
The Venezuelan fleet market is comprised of local companies and multinational corporations, of which about 500 are U.S. companies with business operations in Venezuela. The strongest vocational segments for commercial fleet sales in Venezuela are oil companies, healthcare, and agriculture.
The causes and the consequences lower commodity prices to the respective automotive and fleet markets of Venezuela and neighboring Ecuador and Colombia is the focus of the latest market overview by Automotive Fleet.
Venezuela and Ecuador are heavily dependent on petroleum exports, as is also Colombia, but to a lesser extent. The steep drop in crude oil prices and other commodities is severely impacting these countries.
The South American automotive market has tremendous potential. IHS Insights forecasts the continent’s automotive market will grow significantly by 2025, becoming one of the top three growth markets globally for light-vehicle sales.
JAC has exported its first order of 100 pickups from its Yangzhou Jianghuai Automobile assembly plant to Venezuela.