Saturday, January 4, 2014

It's now legal to buy a new car in Cuba. This is what passes for "reform" in socialist countries.


◼ Cubans are now able to buy modern cars freely for the first time since the revolution in 1959. - BBC via ◼ Ron Nehring

Now, Cubans will no longer need the government's approval to buy new cars from state-owned sellers.

But prices remain out of reach for many.

The BBC's Sarah Rainsford, in Havana, says a new Peugeot 508 estate at a showroom in the Cuban capital is on sale for an extraordinary $262,000 (£160,000).

That is eight times more than what it would cost in Britain, for example.

And used cars are not much cheaper. Our correspondent says a five-year-old Peugeot 206 is priced at $85,000 (£52,000).

The vast majority of people in Cuba earn a state wage of around $20 (£12) per month.

The government says some of the profits from sales will go towards developing Cuba's decrepit public transport system.

◼ Meanwhile: ‘This cannot possibly be real’: Rolling Stone’s five economic reforms sure sound like Marxism - Twitchy