Automotive Market
FOREIGN CURRENCY MARKET
Actual new economic and financial practices, in all commercial and industrial transactions in Venezuela are now processed in Dollar or Euro currency by over 75% of the population. In consequence the banking sector, can now open dollar accounts for their clients.
Capital and dividends repatriation, is another crucial security point for investments, where now industries are freely allowed to repatriate them in foreign currency.
Since 2020 consumers pay their car purchase with foreign currency. Main merchandise stores in Venezuela, have adapted their pricing of all their goods and merchandise prices in Dollar.
FUTURE ENERGY MOBILITY MARKET
On their part, due to temporary gasoline shortage, the majority of vehicles combustion engines are being transformed into liquefied natural gas (LNG) due to the presence of ample natural supply, with an adequate infrastructure of fueling stations and distribution network. These conditions, also favors adoption in countries such as Venezuela; rich with natural gas.
Venezuela though confronting an economic crisis, yet it is a very rich country in energy supply, and we estimate that future LCV’s and HDT’s will play a big role with a new evolution of power train technologies in the coming future of Venezuelan automotive market.
The battery -powered electric will be most likable for the future market. Energy supply though has a very low cost, yet the, infrastructure is to be done
Future viability of hydrogen fuel cell power trains, is also possible and feasible due to the availability of cheap electric power which makes Venezuela most likely a candidate for fuel cell technology in the long term future especially it’s favorable for long distance.