Venezuela car sales slip 64.4 pct in May-chamber

Reuters, 06.05.03, 1:15 PM ET CARACAS, Venezuela, June 5 (Reuters) - Car sales in Venezuela fell by 64.4 percent in May compared with a year before as the industry struggled with the country's sharp recession, the Venezuelan Automobile Chamber (CAVENEZ) reported Thursday. A total of 4,916 cars were sold last month compared with 13,799 units in May of 2002. April auto sales in the world's fifth largest oil exporter totaled 4,269 units. Sales during the first five months of 2003 fell 68.5 percent to 22,061 compared with 70,127 units during the January to May period in 2002. Car sales have dropped as Venezuela has battled an economic crisis and political instability. A two-month general strike in December and January battered sales, and tight currency curbs introduced in February have also cut into business. The companies affiliated with CAVENEZ are DaimlerChrysler AG's (nyse: DCX - news - people)<DCXGn.DE> DaimlerChrysler de Venezuela, Fiat SpA's <FIA.MI> Fiat Automobiles, Fiat affiliate IVECO Venezuela, FordMotor Co. (nyse: DCX - news - people), General Motors Corp.'s (nyse: DCX - news - people) General Motors de Venezuela, Mitsubishi Motors Corp.'s <7211.T> MMC Automotriz and Toyota Motor Corp.'s <7203.T> Toyota de Venezuela. The figures represent the total vehicle sales in Venezuela, and also include car models made by non-members of CAVENEZ, such as Mazda Motor Corp. <7261.T> and Volkswagen AG <VOWG.DE>.