Venezuela's car sales plummet 47 percent in April

CARACAS, Venezuela, May 8 Reuters reported that car sales in Venezuela fell by 47 percent during April versus the same period a year ago, the Venezuelan Automobile Chamber (CAVENEZ) said Wednesday.

A total of 8,034 cars were sold last month, compared with 15,089 units sold during April 2001.

April's sharp decline brought sales for the first four months of 2002 to 56,328 units, off 4.07 percent from the same period a year ago.

A three-day general strike that led to a failed coup against President Hugo Chavez disrupted Venezuela's economic activity during April.

Vehicles sales had been improving over the past two years, matching the oil-reliant country's positive economic growth results after a 40 percent slump in sales in 1999.

Prices of cars sold in Venezuela, which are mainly composed of imported parts, have increased sharply since February after the government decided to float the local bolivar currency. The bolivar has depreciated 18 percent against the dollar since the beginning of the year.