Popular Auto hosts 10th annual ‘Academy’ for Puerto Rico dealers
The event explored AI tools, sales and tariffs as part of a shifting automotive landscape.
Automotive financier Popular Auto recently held the 10th edition of its “Popular Auto Academy,” a series of webinars for discussing key trends in a rapidly evolving industry.
Amid a 5.7% drop in auto sales in Puerto Rico in 2024 and ongoing global tariff concerns, Popular Auto President Antolín Velasco emphasized the importance of staying informed and adapting to market conditions.
“Through Popular Auto Academy, we give industry members the chance to stay up to date on the latest market trends and regulatory compliance issues, as well as receive valuable information for the development and growth of their dealerships,” Velasco said in a press release.
Despite market challenges, Popular Auto reported a 6.8% increase in its financing and leasing activity in 2024, he added.
Much of the conversation at the academy centered on insights from the National Automobile Dealers Association (NADA) annual convention, held in January in New Orleans. The convention drew approximately 25,000 auto executives and 500 companies.
Topics discussed included using artificial intelligence to drive sales, strengthening and retaining talent through company culture, and cutting variable costs in dealership operations. Speakers also addressed digital visibility through Google optimization and shared top insights from the NADA 20 Group — a panel of consultants with an average of 25 years in the auto industry.
Tariffs remained a pressing concern. Although President Donald Trump paused most “reciprocal” tariffs for 90 days, the White House has maintained a 25% tariff on all imported vehicles, with a similar tariff on auto parts set to take effect May 3. A 25% tariff on raw materials like aluminum and steel also continues to impact automakers.
Speakers at the event included Alexis Soto, manager at accounting firm Aquino, de Córdoba, Alfaro & Co.; Vilato Marrero, president of VM Enterprises; and Jorge Armando Escudero, president of JAE Consulting.
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JAE Consulting President Jorge Armando Escudero was among the speakers at the Popular Auto Academy event.
