The Banco Popular Dominicano reported that the twenty-sixth edition of the Autoferia Popular concluded with an amount of RD $ 9,999.7 million in loan applications, equivalent to 5,556 new vehicles, of which RD $ 6,606 million have already been approved.
These have been the best historical results achieved so far by this financing platform for the automotive sector. In terms of vehicle type, jeepetas or suburban cars represented 68% of the cars purchased, with an average amount of RD $ 1.9 million per unit financed during the fair.
By age range, people over 46 years of age make up the segment that purchased the most cars, with 34% of the total, while young people, with ages between 18 and 25, consolidated as the group that grew the most percentage in purchases compared to previous editions. Clients classified by gender, 6 out of 10 vehicles were purchased by men.
Hybrids and electric
Hybrid and electric vehicles obtained an outstanding participation in this edition of the Autoferia Popular with loan applications for RD $ 859 million and disbursements so far for RD $ 155 million, consolidating a growing trend in the market.
Through its Hazte Eco green finance portfolio, Banco Popular manages a portfolio of eco vehicles, financed through traditional loans and green leasing, which already amounts to RD $ 978.8 million, the most important in the financial sector, thus honoring its commitment to Principles of Responsible Banking and its sustainable vision as a financial organization.
Regarding the types of financing preferred by clients, 66% were loans for 7 years, 26% for 5 years and another 8% for less than 5 years.
The financial solution of leasing, which has tax benefits, continues to grow among customers. Banco Popular has offered this product since 2014 and the good reception grows annually: the global portfolio of Leasing Popular has increased by double digits in recent years, increasing by 21.3% compared to 2020
The Autoferia Popular season was held in person at the bank’s branch network and at the participating dealer houses and distributors, as well as in digital format, through the fair’s web portal, www.autoferiapopular.com.do , and the Autoferia Popular app.
Clients enjoyed the most competitive financing conditions in the market, with fixed rates starting at 4.75%, as well as the possibility of financing up to 90% of the value of the vehicle, starting to pay in January 2022 and having up to 84 months to pay off their loan . For the acquirers, these financial conditions are maintained until they receive their new unit in April 2022.
In addition, buyers at Autoferia Popular received discounts on insurance, thanks to Seguros Universal, and participated to win 500 fuel vouchers and vehicle wash vouchers at Sunix stations. In addition, all customers who opted for an electric vehicle received free 1,000-kilometer recharges on EverGo chargers.
Paniagua thanks the work team
Regarding the results obtained in the twenty-sixth edition of the Autoferia Popular, the executive president of the financial organization, Mr. Christopher Paniagua, expressed his team pride towards the thousand employees of the banking organization who worked on this version, thanking at the same time the traditional support of the dealerships and distributors that were part of the event. “This great teamwork between our collaborators and the automotive sector makes the Popular Auto Show a success story, which serves as a thermometer to feel how the economic reactivation is consolidating, which is excellent news for the country and for all Dominicans, ”said Paniagua.
