The president of the Venezuelan Automotive Chamber (Cavenez), Félix Cáceres, believes that financing for the sector is crucial to maintaining the operation of the service chain, including insurance, spare parts, and workshops. Therefore, he emphasizes the need to expand access to credit.

According to Cáceres, “the recent market stability reflects the significant role that financing offered by dealerships has played, along with a gradual improvement in credit conditions from banks.”

The union leader maintains that the market remains stable and that “financing from dealerships has been key throughout this process, along with the efforts of the banks.”

According to Cáceres, automotive sales increased by 60 % in the first quarter thanks to new payment methods and the “financing plans offered by dealerships, which have allowed them to sustain demand in an environment of limited bank credit.”

On the other hand, Cavenez has reaffirmed his support and guidance to companies considering establishing themselves in the country to facilitate their entry and operation.

M.Pino

Source: finanzasdigital

(Reference image source: Obi on Unsplash)

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The reactivation of car assembly in Venezuela in the short term faces the need for investment, the importation of spare parts, and technical support, according to Eduardo Cáceres, president of the Venezuelan Automotive Chamber (Cavenez).

The executive emphasized that the national automotive industry remains “optimistic and hopes that within a suitable timeframe, the necessary investments can be made to create the conditions for both assembling and importing vehicles in Venezuela.”

Currently, the sector depends heavily on imports to ensure the renewal of the vehicle fleet. Furthermore, it requires technical support and spare parts. “Any initiative, whether for importing or light assembly (SKD/CKD), is welcome as long as it complies with regulations, generates jobs, and strengthens the service network,” Cáceres added.

According to the president of Cavenez, consumer demand and brand preferences determine the return of U.S. companies to the country. Current policies seek to “promote an open, diverse, and competitive market, where we choose quality and safety, not flags.”

Cáceres emphasized the important role of Chinese brands in revitalizing the local market, “with excellent technological acceptance by Venezuelans by the end of 2025 and the beginning of 2026.”

In this regard, he said that the Chamber’s objective is to guarantee all brands a solid service structure and ensure compliance with homologation standards “to guarantee a lasting and reliable presence in the country.”

M.Pino

Source: noticiaalminuto

(Reference image source: Joseph Pillado on Unsplash)

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The governments of Iran and Venezuela are negotiating a contract to repair the Paraguaná Refining Complex (CRP), considered the largest oil refiner in the country and once one of the most important in the global arena.

Sources close to the negotiation indicated: “In about a year, Iran should be able to bring its people to Paraguaná (…) They have been very focused on the preparations, including housing for the workers.”

The Paraguaná Center, also known as CRP, has a capacity of 955,000 barrels per day and is made up of the Amuay and Cardón refineries, located on the Paraguaná Peninsula in the Falcón state of Venezuela.

According to some independent statistics, the CRP registered operations for the month of April of 17 % of its capacity.

Iranian supplies

According to data released in various media, the Iranian state companies provided the Venezuelan authorities with equipment and instruments that made it easier for the Caribbean country to activate the gasoline manufacturing unit in the CRP.

The equipment was transferred from China, after the “Iranian” companies handled the procurement and transportation.

On the other hand, Iran has provided Venezuela with some “fuels and diluents” to obtain the grades of crude necessary to export. In addition, it has supplied spare parts and equipment since 2020 in order to restore and renew the refining network and raise it to “1.3 million barrels per day.

Recently Niordc, the unit of the state-owned Iranian National Oil Refining and Distribution Company, signed a contract for 110 million euros, equivalent to 116 million dollars, with PDVSA in order to “repair and expand the El Palito refinery” which has a capacity of 146,000 barrels per day and is located in the central region of the country.

M. Rodríguez

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Source: eluniversal.com

La entrada Venezuela and Iran will repair the Paraguaná Refining Center apareció primero en Bitfinance.

The executive president of the Chamber of Venezuelan Manufacturers of Auto Parts (Favenpa), engineer Omar Bautista, pointed out that the reduction of vehicle assembly to almost zero, and the inactivity of the vehicle fleet by 60% due to fuel shortages, have been factors that have severely affected the auto parts industry.

Bautista expressed that he is confident that by 2021, with the arrival of the COVID-19 vaccine, quarantine can be relaxed and working conditions regularized, which would make this year better.

He assures that the situation that is looming for the sector in 2021 is very complex, taking into consideration that the assembly of vehicles in Venezuela practically disappeared and last year only 87 units were assembled, remembering that ten years ago they were assembled per year 104,000 vehicles, while the annual average was 100,000 units.

He added, according to the newspaper El Impulso, that there is an additional problem that affects the sector, which is the imports of auto parts, which has contributed to the fall in domestic demand for this national item, since some imported goods enter without paying taxes, which generates unfair competition.

G. Febres

With information from El Impulso and other national media

La entrada Venezuelan automotive industry assembled very few vehicles in 2020 apareció primero en Bitfinance.