In terms of trade this sector of the economy generates up to $400 million a year.

According to Alvaro Rodriguez, vice president of the Nicaraguan Association of Motor Vehicle Dealers (Andiva), the event's success is due in part to the banks which took part offering credit facilities with low interest rates and quick credit approval.

Elnuevodiario.com.ni reports: "This year the bank offered an interest rate of 8.5%, asking for a 10% deposit on the value of the vehicle and allowing repayments over 72 months."

"For us support from the banks is crucial, without them this event would not be a success," said the Sales Supervisor from Veloso, Silma Lila Sarántez.

Source: elnuevodiario.com.ni

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