The effects of the new, lower exchange rate is now being seen on the new car lots of Santo Domingo, and prices have fallen as much as 20%. Used cars are also about 10% less in price. A 2000 Toyota Corolla that was once RD$450,000 is now RD$400,000, and a Mitsubishi Montero, 2004 model year, has a price tag RD$400,000 less than a few weeks ago. According to Japan Auto Comercial in Santo Domingo, car sales have picked up slightly, but are much better than four months ago when there was much uncertainty in the political and economic arenas. Over the first quarter of the year, car sales fell 27%. The New Car Dealers’ Association told El Caribe reporters that new car prices were reduced by 20%, but Central Bank figures show just a 6.39% fall in car prices for the second consecutive month, since the dollar has dropped 1,000 points (RD$10.00) on the exchange markets. The spokesperson for the new car dealers, Enrique Fernandez, said that the current situation does not favor the dealers since they had obtained their inventories under a weaker peso and now are forced to sell at disadvantageous prices. The prime beneficiary according to Fernandez is the consumer, who is now able to save hundreds of thousands of pesos on their new car purchase. Prices vary by manufacturer and by the tax structure that is applied. All vehicles are subject to a 10% exchange commission tax, a 2% import tax (until December), a 12% VAT, and a Selective Consumer Tax that ranges from 10% to 80%, depending on the vehicle.