Cuba Loosens Rules on Buying Cars, But Sells Just 50 of Them

By | July 02, 2014
A new law that took effect in January allows Cubans to freely purchase cars for the first time in about half a century. But while this may seem like a major step forward for the nation's transportation industry, cars are still far out of reach for most people. Cuba is home to about 11 million people. But according to a new report, Cuban dealers sold just 50 cars and four motorcycles in the first half of the year. Even the most basic economy cars receive markups of 400 percent or more. A Kia Rio that costs $13,600 in the U.S. has been offered for $42,000 in Cuba. Other cars have even bigger markups. A family Peugeot car that typically goes for $53,000 in the U.K. was listed for $262,000 in the Cuban capital of Havana. Prior to the January law, those who wanted to buy cars in Cuba had to ask for government permission. Typically, only the likes of diplomats and doctors were granted their request. Those who didn't get permission were limited to vintage cars made before the nation's 1959 revolution. Some have recently also resorted to secondhand vehicles, which are usually former rental cars. Source: Reuters
Jon Mower
Jon Mower

A family Peugeot car that typically goes for $53,000 in the U.K

Sorry, where on earth do you get that from, the picture above is a Peugeot 207, and retails for about £14,000 or about $21,000 not the vastly inaccurate $53,000 that you have chosen to place. and that model is no longer available in the UK. and the picture is from 2003