Banks join automakers in inaugurating new dealerships
Oriental Auto, a division of Oriental Financial Group, and FirstBank made back-to-back announcements this week of their support of the auto industry, partnering with them to open new dealerships this week.
In Río Grande, Oriental Auto and Taíno Motors cut the ribbon on a new Mitsubishi dealer that will serve Puerto Rico’s eastern flank. This new 3,600 square-foot dealer is the first Mitsubishi dealer in the region and second for Taíno Motors, which has another such facility in Carolina. The new business is creating 15 jobs in its first phase, company officials said.
“For Oriental to be a strategic partner and collaborate with our clients for their economic development its what makes the difference in the auto and banking industry” said Milagros Pérez, executive vice-president of Oriental Auto, which collaborated with Taíno Motors to open the new dealership.
Meanwhile in Bayamón, FirstBank joined the Outumuro Automotive Group to open a new Hyundai dealership on Route 2 in Hato Tejas. The $2 million modern facilities span 18,000 square-feet of exhibit and service space, plus a lot to accommodate an inventory of vehicles.
“The Outumuro Automotive Group, with its solid track record in the sales and distribution of prestigious brands in Latin America, arrived to Puerto Rico three years ago. Since then, FirstBank struck a business relationship with them and has supported the development of their business and expansion projects,” said Carlos Power, executive vice president of consumer banking for FirstBank.
The bank and the automotive group began when the latter bought the Yiyi Motors dealership, which sells Nissan-branded vehicles. The new dealer in Bayamón employs 22 people.