Only 50 cars were sold in Cuba in the first six months of the year after local authorities loosened the restrictions regarding import cars.
Only fifty cars were sold in Cuba in the first six months of the year after local authorities loosened the restrictions regarding import cars.
At the beginning of the year Cuba eased restrictions on car imports after 50 years but since then only fifty cars and four motorcycles have been sold across the country. The main reason has to do with incredibly high prices as in some cases these were marked up 400 percent or even more. For example, a humble Peugeot 206 at a Havana dealership costs 91,000 USD while a 508 is a whopping 262,000 USD.
These prices are ridiculous taking into account the average wage for state workers is just 20 USD per month. Most of the cars purchased were used since the average sale price was of 23,759 USD.
Cuba says 75 percent of the proceeds from new car sales will be invested in their archaic and inefficient transportation system. However, so far they haven't been able to collect a considerable amount of money since the country's eleven dealerships sales reached only 1.28M USD in the first six months of the year.