Venezuelan car sales soar 64.6 pct in February
CARACAS, March 7 (Reuters) - Venezuelan car sales soared 64.6 percent in February compared with the same period a year earlier, boosted by strong economic growth, Venezuela's automotive chamber said on Wednesday.
The group said total car sales for February reached 33,593 vehicles, compared with 20,403 in February 2006.
The economy of Venezuela, the fourth-largest exporter of oil to the United States, grew by an estimated 10.3 percent in 2006 on high oil prices.
Large increases in government spending by leftist President Hugo Chavez, who won reelection in December, helped fuel growth.
The 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 in Venezuela, including car models made by chamber nonmembers, such as Mazda Motor Corp. (7261.T) and Volkswagen AG (VOWG.DE).
The companies affiliated with 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.
