Venezuela Replaceable Auto Parts Market

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This report describes the Venezuelan replaceable automotive parts market and opportunities for U.S. exporters. Venezuela has over two million cars, trucks and buses and is the fourth largest assembler of automobiles in Latin America. The estimated average age of motor vehicles in circulation is above 10 years, which makes Venezuela an excellent market for spare parts for older cars. In addition, new vehicle sales increased by over 40% the first seven months of 2006. The outlook for the auto sector here is excellent, with industry observers’ projecting a steady growth in demand over the next five years.

 

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