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Rising Trend: The Growing Demand for Used Cars in Venezuela

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Rising Trend: The Growing Demand for Used Cars in Venezuela

The second-hand automotive market in Venezuela is booming as the national automotive industry continues to decline. According to a recent report from the Automotive Chamber of Venezuela (Cavenez), there was no vehicle production in January 2024, following a trend of decreasing production numbers over the years.

With new imported cars costing between $23,000 and $53,000, many Venezuelans are turning to the used car market for more affordable options. Daniel Herrera, a 25-year-old lawyer from Caracas, shared his experience of searching for a car online and finding prices to be high for older models dating back to 2006 or 2008.

On platforms like TuCarro.com and Facebook Marketplace, prices for used cars vary. For example, a 2013 Mitsubishi Lancer in Baruta is priced at $10,800, while a 2011 Chevrolet Aveo on Facebook Marketplace has a price of $5,400.

Despite the risks associated with buying on social media platforms, many Venezuelans are turning to these options for more affordable prices. With limited options for purchasing new vehicles, the second-hand car market continues to be a popular choice for those looking for a more budget-friendly option.

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