Dominican Republic

Last modification: 14 Nov 19
Introduction: 

Being a geographically diverse country with rugged highlands and mountains infused with fertile valleys, the Dominican Republic shares the island of Hispaniola with Haiti (eastern two-thirds makes up the Dominican Republic, western one-third is Haiti) and it is the second largest country in the Antilles, after Cuba.

It is home to the Caribbean's tallest mountain (Pico Duarte) and largest lake (Lago Enriquillo) and it also has the region's lowest elevation point.

The economy of the Dominican Republic is highly dependent upon the US, the destination for approximately half of exports and the source of 40% of imports. Remittances from the US amount to about 7% of GDP, equivalent to about a third of exports and two-thirds of tourism receipts. The Central America-Dominican Republic Free Trade Agreement came into force in March 2007, boosting investment and manufacturing exports.

Chapter 1: Economic and business environment

Demographics

population of 10.4 million (2019)

Capital

Santo Domingo

population of 2.2 million (2018) 

Major cities

1. Santo Domingo (2.2 million people)
2. Santiago de los Caballeros (1.2mn)
3. Santo Domingo Oeste (701,269)
4. Santo Domingo Este (700,000)
5. San Pedro de Macorís (217,899)

Languages

Spanish

GDP

US$76 billion (2017)

Unemployment rate

5.8% (June, 2019)

source: Trading Economics

Main industries

tourism, sugar processing, gold mining, textiles, cement, tobacco, electrical components, medical devices

Currency

Dominican peso

Interest rate

4.5% (2018)

source: Trading Economics

Fleet Maturity Index (scaling)

Approximately 11% of the cars in the country are five years or less. The remaining 89% are older.

Source: DGII

Inflation

2.03% (September 2019)

source: Trading Economics

Chapter 2 : Automotive market, segments & sales

Total Car park

4.35 million vehicles in 2019 

Of the new cars in the country, approximately 68% are from Asia, mostly from Japan and followed by South Korea. Approximately 7.1% come from the USA and 10% from Europe.

(source: DGII)

New vehicle registrations (Cars, LCV, Trucks)

11,521 units in 2018 (source: Autodato)
 

 

Top 5 brands (total market)

2018 
1. Hyundai (2,126 units sold)
2 Toyota (1,760 units)
3. Kia (1,686)
4. Nissan (896)
5. Honda (858)

source: Autodato

Model preference top 5 (total market)

As for subcompact cars, Hyundai i10 (hatchback & sedan), Toyota Agya, and Kia Picanto are popular. As for SUVs, Hyundai Tucson and Toyota RAV4 are good sellers.

Used car market/renewal cycle

For every new car sold in the country, appoximately three used ones are imported.
Nearly 33,000 used cars were imported in 2018 (source: Autodato)

Cars older than five years are prohibited from being imported. However, there are older cars are being imported into the country. 

Chapter 4: Taxation & legislation

In 2018, some 84% of the population paid their vehicle circulation tax
In 2019, about 87% paid.  

Chapter 5: Car policies

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Chapter 6: Funding methods

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Chapter 7: Fuel

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Chapter 8 : TCO components

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Chapter 9: Safety, insurance and telematics

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Chapter 10: Environment

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Chapter 11: Mobility

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Chapter 12: Key trends to watch

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