Sticker Shock in Cuba
Via the BBC: Cubans shocked at prices as foreign cars go on sale
Cubans have reacted with shock after foreign-made cars went on sale for the first time since the 1959 revolution at what some termed "crazy" prices.
The state has a monopoly on new car sales and has set massive mark-ups.
A Peugeot 508 is listed at $262,000. Peugeot’s UK website puts prices from $29,000. State salaries in Cuba average about $20 a month.
Freeing up car sales is the latest in a series of reforms. A permit to buy new vehicles is now no longer required.
Nonetheless, some Cubans do appear to have money to spend.
An attendant at one car store in Havana told the BBC it had sold six vehicles by 14:00 on Friday. He said the most expensive went for $50,000.
Until new regulations in 2011, people could only sell cars built before the 1959 revolution.