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NOT A GREAT START

Cuba Sells Only 50 Cars in 6 Months

Sales ban has been lifted.

cheats/2014/07/01/cuba-sells-only-50-cars-in-6-months/140701-cuba-cars-cheat_vp532u

Cuba lifted limits on auto purchases for the first time in 50 years, but that doesn’t mean business is booming. The officially communist nation sold only 50 cars (and four motorcycles) in the first six months of 2014, partially because dealers jacked up prices 400 percent or more. Most of the year’s sales were second-hand cars with an average price of $23,759 per vehicle, bringing in a total of $1.28 million at 11 national dealerships. One Peugot dealership in Havana asks $91,000 for a 2013 model 6, for example—in a nation where most state workers make only $20 a month.

Read it at Reuters

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