The Venezuelan automotive sector stated on Tuesday that the country is undergoing a 'process of transformation' and is confident that new opportunities will arise for the national vehicle market, which saw sales grow by 119.9% last year compared to 2024. The executive president of the Venezuelan Automotive Chamber (Cavenez), Eduardo Cáceres, who believes his country 'is undergoing a process of transformation,' told EFE that 'it is very important what is happening from a diplomatic and regulatory point of view.' Cáceres celebrates the recent reopening of the US diplomatic mission in Caracas, which had been closed for seven years since the rupture of relations between the two countries in 2019, and noted that this 'is an element that will contribute a lot to what needs to be done for the future.' 'There is still a long way to go, but I believe that important steps are being taken to get to where we want to be, and that is why it is key for the automotive sector to plan and project ourselves because, precisely, we have to be ready for when those opportunities arrive,' he expressed. For the head of Cavenez, the Venezuelan automotive sector expects that the lifting of US sanctions will significantly 'reduce the issue of risk.' 'This will lead to a reduction in the cost of everything related to imports, all freight and insurance costs will change significantly,' he added. The situation in Venezuela took a turn after the capture last month of Nicolás Maduro and his wife, Cilia Flores, by the United States, after which then Vice President Delcy Rodríguez assumed the position of interim president and has maintained conversations with Washington, which appointed its diplomat Laura Dogu as Chargé d'Affaires in Caracas. Last Friday, the US official informed that she addressed the Venezuelan economic recovery in a meeting with Chevron's team, the only US oil company that maintains operations in the country. In that sense, she assured that they are working to 'guarantee the return of prosperity' to Venezuela for the benefit of both countries. According to the automotive industry, 38,610 new vehicles were sold in Venezuela last year, 119.9% more than in 2024, when there were 17,558. The sector projects a growth of more than 29% for 2026, with over 50,000 units.
