Dominican Republic Vehicles market in the 2017 has lost 16% following the peak hit in the previous year, when the new all time record was established. Toyota has lost the leadership taken by Hyundai, with a wide gap. In third place the other Korean, Kia.
A looser monetary stance and robust fiscal support were instrumental drivers of the economy’s solid performance in the 2017. Annual GDP growth accelerated from 3.0% in Q3 to 6.5% in Q4 as increased liquidity and cheaper credit fueled stronger capital outlays and private spending growth.
Solid remittance inflows and a recovery in tourism operations following hurricane-induced disruptions in late Q3 also likely contributed strongly to the reading. Increased government support was particularly noticeable in the construction sector, where activity expanded an impressive 15.3%
The Dominican Republic new vehicles market had reported a strong increase in the 2016, when the new all time record was established at 24.396 units. In the 2017 sales declined back at 21.425 units (-16%) and were more in line with the average volume in this decade.
The traditional market leader, Toyota, has lost the leadership after the strong increase reported by Hyundai, now leader with 4.278 sales. Toyota stands in second place with 2.720 sales, just few units ahead of the third, the other Korean Kia.
Tables with sales figures
In the tables below we report sales for Top Brands