Venezuela begins inspections in car assembly plants
The Venezuelan Government is taking actions in an attempt to regulate the price of vehicles
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
Since the Venezuelan government imposed currency and price controls in 2003 property rights have been seriously affected, as the individual's freedom to acquire, use, enjoy and dispose of property has been severely restricted, according to experts.