Venezuela car sales drop nearly 52 pct in June

CARACAS, Venezuela, July 4, 2003; Reuters reported that car sales in Venezuela fell by 51.85 percent in June compared with a year before, reflecting the impact of the country's deep recession on the national auto industry, the Venezuelan Automobile Chamber (CAVENEZ) reported Friday.

A total of 5,185 cars were sold last month compared with 10,769 units in June of 2002. But the June sales represented an increase of 5.47 percent from the 4,916 units sold in May in the world's fifth largest oil exporter

Sales during the first six months of 2003 fell 66.32 percent to 27,246 units compared with 80,896 units during the January to June period in 2002.

Car sales have plummeted as Venezuela has battled political instability and a severe recession. A two-month general strike in December and January slashed sales, and tight currency curbs introduced in February have also cut into business.