Korea invades Dominican Republic auto market
Santo Domingo.- The number of vehicles climbed 2.9% in 2013, or nearly 20,000 new autos, of which 18,300 are SUVs (yipeta), which jumped 6.2%.
According to an industry source quoted by eldia.com.do, the only automotive segment that grew above 5% was of Korean manufacturers, which soared 18% in 2012 and 31% in 2013. The rest of the brands grew an average of 2.3%
An analysis by Deloitte, Nassim Alemany Economic partner shows that SUVs’ growth of 9% sales in 2013 was much higher than pickup trucks, a segment also headed by the Koreans.
Between 2007 and 2013 Korea’s auto-market share grew from 2.5% to 4.1%, while SUVs went from 4.5% to 10%.
Category: DR News |