Tremendous bureaucracy and new regulations in the automotive industry in Venezuela...have made business very difficult

After record sales last year, Venezuela's auto market is seeing a strong decline this year thanks to new government measures aimed at restricting imports. 'The situation in Venezuela is extremely challenging,' says Eduardo Mayoral, managing director for Chrysler Latina, which oversees the company's Latin America operations. 'The tremendous bureaucracy and new regulations in the automotive industry in Venezuela...have made business very difficult.' Chrysler's sales in Venezuela, its top market in South America, fell by 43 percent in the first four months of the year, he says."