The Tax Agency (DGII) reports 70,743 new vehicular registrations were issued in 2019. This increases the number of vehicles in circulation to 1,374,231 as of mid-December 2019, according to El Dia. El Dia reports that every year, the number of motor vehicles in the country has been increasing. Last year the increase was 253,546 new units.
59.1% of the motor vehicles circulate in the National District, Greater Santo Domingo, Santiago de los Caballeros and María Trinidad Sánchez (Nagua). Motorcycles top the list of vehicles in the Dominican Republic. 65.2% of vehicles are imported from Japan, 10.8% from the United States, 11% from South Korea, 6.9% from Europe.
Vehicle registration, circulation, inspection stickers and fuel taxes are a major source of revenue for the Dominican government. The state commercial bank, Banco de Reservas is a main promoter of new vehicle purchases by offering low-interest rates for the purchase of new vehicles. The interest rates are much lower and at better terms than those available for industry and other productive activities.
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El Dia
17 December 2019