Dominicans have traded the inconveniences of mass transport for the inconveniences of private cars that are adding to the problem of traffic congestion. Diario Libre reports that vehicle sales in the country have topped RD$534.5 billion since 2015. The DGII reports vehicle sales of RD$152.9 billion in 2017 alone. Over the years, the government-owned Banco de Reservas has spearheaded a festival of low interest car loans that have motivated many Dominicans to buy a car, or two and three in the hope of getting around. Other banks have followed. Today it is easy to get a car loan, not so a loan for manufacturing or other productive activities.
Diario Libre reports that the number of vehicles in circulation has increased from 3,612,964 units in 2015 to 4,097,338 to August 2018, according to data from the Tax Agency (DGII). Vehicle sales in 2015 were RD$130.4 billion. These increased to RD$147.5 billion in 2016 and RD$152.9 billion in 2017. As of August 2018, vehicle sales had reached RD$103.7 billion, foreboding another record year in vehicle sales.
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Diario Libre
8 November 2018
