ESPACIO PUBLICITARIO
CARACAS, Wednesday February 27, 2013 | Update
 
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ECONOMY

Venezuela begins inspections in car assembly plants

The Venezuelan Government is taking actions in an attempt to regulate the price of vehicles

EL UNIVERSAL
Wednesday February 27, 2013  02:11 PM
Within the framework of a legislative initiative to regulate car prices in Venezuela, local authorities on Wednesday began inspections in car assembly plants based in the country.

Elvis Amoroso, the lawmaker promoting the bill to regulate car prices, denounced the existence of a black market in the automobile sector that involves car dealers, entrepreneurs, and websites.

Sources close to the sector stated that authorities have conducted regular inspections in car assembly plants and are fully aware of daily operations.

Regarding prices, sources said that they are calculated based on production costs, which are frequently adjusted as they are subject to increases in both salaries -pursuant to labor agreements, and inflation. However, the sources pointed out that the increase in car prices was below the National Consumer Price Index of 2012.

Translated by Jhean Cabrera
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