Venezuelan Car Sales Have Plunged 99.4% From Their PeakBy
Venezuela sold 293 vehicles, including cars, trucks and buses, in March, a 99.4 percent decline from the record-high of 52,658 vehicles in November 2007, according to auto chamber Camara Automotriz de Venezuela, or Cavenez. On Wednesday, General Motors Co. said it shut operations in the country after authorities seized the automaker’s plant in Valencia. With the Andean nation facing a shortage of dollars, even scrapyards are running out of parts.
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