Banco Popular reported that the XXVII edition of the Popular Auto Fair concluded with RD$10,349.6 million in loan applications, equivalent to 5,592 new vehicles, of which RD$6,912 million in loans have already been approved, according to preliminary data from the organization.
The jeepetas or suburbans were the most purchased cars, with an average amount of RD$1.9 million per financed unit, representing 70% of the cars purchased. Meanwhile, the most popular financing term was the 7-year rate.
By age group, 40-year-olds made up the group that purchased the most cars, followed by those between 25 and 35 years of age.
By gender, men purchased 6 out of 10 vehicles. Popular Leasing, as a financing alternative for companies and professionals, obtained requests for RD$1.6 billion.
Under the campaign slogan “Activate”, the Popular Auto Fair demonstrated, once again, its ability to contribute to the renewal of the vehicle fleet in the country, marketing new, more modern, safe and efficient units.
According to data from the General Directorate of Internal Taxes (DGII), only 10.2% of the vehicles that circulate on public roads are less than 5 years old.
The 2022 edition of the Autoferia Popular marked a local milestone as it was the first automotive fair to have a total of 45 models of hybrid and electric vehicles, which could be financed with preferential and fixed rates for up to five years, always lower than the rates that were offered for conventional vehicles.
