CORRECTED - (OFFICIAL)-Venezuela Jan-April vehicle sales up 52 pct

Mon May 7, 2007 8:42pm EDT
 
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(Corrects sales increase to 52.4 percent to comply with an official correction by the automotive chamber Cavenez)

CARACAS, May 7 (Reuters) - Venezuela's vehicle sales from January to April soared 52.4 percent from the same period last year, spurred by strong economic growth, the nation's automotive chamber said on Monday.

April sales reached 31,467 units, up 59.7 percent from sales of 19,695 the year before.

Vehicle sales for January to April reached 130,956 compared to 85,957 for the same period a year earlier, Venezuela's auto chamber Cavenez said.

The economy of Venezuela, the fourth-largest exporter of oil to the United States, grew 10.3 percent in 2006 on record-high crude prices.

Leftist President Hugo Chavez, who won a landslide reelection in December, has spurred economic growth through an anti-poverty crusade that has vastly increased government spending.

His government has also spurred car sales through a family vehicle program that exempts certain cars from the country's value added tax.

The figures represent total vehicle sales, including car models made by chamber nonmembers, such as Mazda Motor Corp. (7261.T) and Volkswagen AG (VOWG.DE).

Companies affiliated with the chamber, known as CAVENEZ, are DaimlerChrysler AG's DCX.NDCXGn.DE DaimlerChrysler de Venezuela, Fiat SpA's (FIA.MI) Fiat Automobiles, Fiat affiliate IVECO Venezuela, Ford Motor Co. (F.N), General Motors Corp.'s (GM.N) General Motors de Venezuela, Mitsubishi Motors Corp.'s (7211.T) MMC Automotriz and Toyota Motor Corp.'s (7203.T) Toyota de Venezuela.

 
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