VenEconomy: To Import or Produce Vehicles in Venezuela? - Latin American Herald Tribune
It has not been a dilemma for the governments of the "beautiful" revolution that took office more than 16 years ago in Venezuela to decide whether they prefer domestic production over bulk imports of everything the country demands for its survival. Sustained oil prices above $100 per barrel for many years, together with a project for a country that goes against private sector activities, tipped the balance in favor of a cutthroat import policy in detriment of an entire national productive... A sector with a high labor demand and promoter of related industries generating productivity that today finds itself on the brink of survival and the closure of production lines due to the lack of foreign exchange for the import of parts and auto... Today, the four largest automakers in Venezuela (Ford, Chrysler, General Motors and Toyota) are at risk of bringing their operations to a halt due to the lack of raw materials. For example, General Motors has reportedly sent some 2,600 workers to their homes on a forced "vacation" due to zero inventories of raw materials for the assembly of motor vehicles. ) For its part, Ford Venezuela has no production schedule for November and December of this year, Gilberto Montoya, the secretary-general of the company's. Source: www.laht.com
