Interesting Interview: Jacinto Peynado (Porsche DR)

[M4kintosh]

They used to sell other brands in addition to Porsche but don’t anymore, but the owner’s background has been the same all this time. What happened?

If you have multiple brands and you get rid of the other ones (not even maintaining ownership of those brands by moving them to a separate business) is because they aren’t selling as well.

His political power suffered during the 90s after being VP. And his businesses suffered drastically with the rise of other families (Najri, Marti, among others).

And another thing, usually big families tried in the past to avoid paying taxes at all costs. Years ago, the Porsche dealership was closed by DGII because they avoid paying taxes several times.

DGII cierra distribuidora de Porsche perteneciente a Jacinto Peynado hijo

DGII cierra distribuidora de Porsche perteneciente a Jacinto Peynado hijo

acento.com.do

 

[JD Jones]

What the interview doesn't really mention:

We all (Dominicans) know that he's really from: a Old money dominican family the Peynados were one of the 20th Century traditional families that lived thanks to State for decades until Jacinto Sr died in 2004.

Jacinto Sr owned Delta (Toyota, Daihatsu, Volvo) dealerships until the early 2000s until the PLD took power and that, their benefits. He sold Delta to the Najri family (Escogido, Mercasid). I remember very well their famous huge family estate in downtown Santo Domingo (at the corners of Tiradentes and 27 de Febrero)

Jacinto Jr learned in the hard way to grow a business without the family name behind, but yes, Dadd Jacinto gave him the opportunity. Good for him.

You lost me. I don't remember their estate on Tiradentes and 27. I thought the place across the street on 27 from Plaza Central is theirs.

 

[CristoRey]

It’s nice to have a nice car

I haven't owned a car since September 2001.
Never stepped foot in a country that doesn't rent vehicles (well maybe Myanmar at the time) and if I ever do...
there's a business opportunity I'll be taking advantage of.

 

[M4kintosh]

You lost me. I don't remember their estate on Tiradentes and 27. I thought the place across the street on 27 from Plaza Central is theirs.

This was the residence he lived until his death in 2004. The family sold the lot and today is a skyscraper.

SE VENDE CASA DE JACINTO PEYNADO

Visto frontal de la residencia del ex vicepresidenta Jacinto Peyna. con un gran letrero de Se Vende . SANTO DOMINGO .-La residencia del...

cotuialdesnudo.blogspot.com

The property you mention is owned by Pepin Corripio and its family.

 

[NALs]

His political power suffered during the 90s after being VP. And his businesses suffered drastically with the rise of other families (Najri, Marti, among others).

I don’t think that’s quite what happened here. The Porsche (and Ferrari/Maserati) dealership actually started in the early 2000’s. Jacinto Peynado father actually wasn’t happy with his son persuing Porsche because he didn’t think anyone can live from that given how small he thought the market was for these vehicles. The Ferrari and Maserati branches were actually removed after the president of Porsche Latin America visited the SD showroom and made it clear he wasn’t happy seeing Ferrari and Maserati in the same dealership of Porsche. Maserati is now owned by someone else and they are known for every year selling all the Maserati sales allowed for the DR, but I don’t think there is a Ferrari dealership in the country (you will see Ferrari’s for sale in unofficial dealerships.)

And another thing, usually big families tried in the past to avoid paying taxes at all costs. Years ago, the Porsche dealership was closed by DGII because they avoid paying taxes several times.

DGII cierra distribuidora de Porsche perteneciente a Jacinto Peynado hijo

DGII cierra distribuidora de Porsche perteneciente a Jacinto Peynado hijo

acento.com.do

Tax evasion was actually quite general in the DR in big, medium and small businesses. Under the PLD the DGII started to change things becoming more active in erradicsting tax evasion, but in a country like the DR not many people will believe things will change until they do.

 

[NALs]

This was the residence he lived until his death in 2004. The family sold the lot and today is a skyscraper.

SE VENDE CASA DE JACINTO PEYNADO

Visto frontal de la residencia del ex vicepresidenta Jacinto Peyna. con un gran letrero de Se Vende . SANTO DOMINGO .-La residencia del...

cotuialdesnudo.blogspot.com

The property you mention is owned by Pepin Corripio and its family.

Highrise. There are no skyscrapers in the NACO (well, in all of SD with maybe Anacona 27 being the exception… maybe.)

 

[M4kintosh]

Highrise. There are no skyscrapers in the NACO (well, in all of SD with maybe Anacona 27 being the exception… maybe.)

Appreciate the detail. Thanks! I call the buildings skyscrapers instead of highrises. But appreciate the correction!

 

[JD Jones]

This was the residence he lived until his death in 2004. The family sold the lot and today is a skyscraper.

SE VENDE CASA DE JACINTO PEYNADO

Visto frontal de la residencia del ex vicepresidenta Jacinto Peyna. con un gran letrero de Se Vende . SANTO DOMINGO .-La residencia del...

cotuialdesnudo.blogspot.com

The property you mention is owned by Pepin Corripio and its family.

That says Tiradentes and Mexico, not Tiradentes and 27. Now I'm more lost.

 

[MoJoInDR]

Friends is televised in the DR, right...

 

[MoJoInDR]

They used to sell other brands in addition to Porsche but don’t anymore, but the owner’s background has been the same all this time. What happened?

If you have multiple brands and you get rid of the other ones (not even maintaining ownership of those brands by moving them to a separate business) is because they aren’t selling as well.

Yep... The common thought is to take money from the hot seller and use it to try and make your other products sell better... But often the better thing to do is put the money behind the best seller and drop the others.

 

[MoJoInDR]

If it gets me from point A to point B in one piece, sheltered from the sun and heat, somewhat comfortable and I can afford. Thats all I want in a car. I like to look at fancy cars but know I don't really want to own one. And the same with women. 🤣🤣

1998 Ford Taurus and 2002 GMC Envoy are what my wife and I roll in — not without the normal old car mechanical problems. They can't come with us to the DR though, should we move there that is.

But I do appreciate fancy cars... Vintage and new... But especially vintage... And this is one of the top ten...

 

[lasalsa]

I have an 86 944 Turbo here in the USA. It's the oldest car I have in my fleet, and the one I love to drive the most. Handling, etc.. and BOOST! Too bad I can't import it to the DR legally...

I used to be the Operations Manager of the Porsche Experience Center here in Atlanta. It was a dream job, but the German mentality is not easy to adjust to. Loved it though.

 

[JD Jones]

I have an 86 944 Turbo here in the USA. It's the oldest car I have in my fleet, and the one I love to drive the most. Handling, etc.. and BOOST! Too bad I can't import it to the DR legally...

I used to be the Operations Manager of the Porsche Experience Center here in Atlanta. It was a dream job, but the German mentality is not easy to adjust to. Loved it though.

Theres a guy who has a 914 for sale on FB, better than nothing. Needs some TLC.

 

[lasalsa]

Theres a guy who has a 914 for sale on FB, better than nothing. Needs some TLC.

I'd like to have enough $$$ to fly in my cars to the DR and back for a weekend at a time. Most can't be imported due to age though. 94 300ZX, Z3M, 944T, etc..

 

[bachata]

I have dated quite a few Dominican guys who live in very ordinary apartments but roll around in very expensive cars. The last one paid twice as much monthly for his car as his rent. All of his money went on sharp suits, being seen at the most expensive bars and restaurants, all so that people would think he was actually a high-roller. Which of course he wasn't, he was constantly asking me if I could give him a little loan, or would I like to go for a romantic weekend to Medellin (and pay for it) or he'd booked a romantic table at SBG but would I mind putting it on my Amex. Very good looking, but that stuff gets tiring very quickly. It's just the same in the block that I live in, all the most expensive cars belong to the cheapest apartments. And the penthouse crowd just stick to Ubers as they have nothing to prove.

Same over here in the US, I see lot of people that lives in apartment complex driving luxurious car.

JJ