2003News

Vehicle sales down 85%, sales of parts too

List?n Diario’s financial section leads with the story that car dealers are reporting a massive drop in sales due to the devaluation of the peso and high interest rates on loans. ANADIVE, the national vehicle distributors association, has decided to cancel its usual car fairs held around the country at this time of year, as the total cost of a new car has soared by as much as 30%. Hoy’s financial section leads with a parallel story, reporting that sales of new vehicle parts are also down by 40-50%. The 10% surcharge on imports, according to dealers, is the main culprit, leading customers to opt for less expensive used parts. The article uses the example of the sparkplug, which has risen in price from RD$23 to RD$32, and compares the price of a used car door, which can be found for as little as RD$2,000, to the cost of a new one – RD$12,000.