New Cars are now available to Cubans but they don’t come cheap. It will take the average Cuban more than 100 years to buy a car at those prices.
To put it in perspective the average Cuban earns less than $50 per month. A Kia Rio which is considered a entry price car sells for a whopping $42,000 and Peugeot 508 goes for almost $262,000.
Many Cubans have been eagerly waiting for the new law to kick in and many had began saving for several years. The US embargo and the changes in the Russian economy have taken a toll on the Cuban auto sector.
The average age of a car in Cuba is well over 30 years old with many going back to the 1930’s. Today Cuba has the highest concentration of antique cars.
The First American Car in Decades Lands On Cuban Soil
Are new cars allowed in Cuba?
For decades, Cubans were only able to acquire cars under special circumstances. The Cuban government authorized the sale of used cars built after 1959. In December 2013, Cubans could buy new cars from state-run dealerships.
Why Are There So Many Old American Cars in Cuba
The Cuban Revolution of 1959 and the onset of the Cold War saw the island’s automotive industry undergo a major transformation. With their old friends becoming foes, Fidel Castro enacted an embargo on the US and imports, preventing US cars from entering the island’s markets.
Can you export a car from Cuba?
Exporting cars from Cuba by foreigners is illegal because of a law passed in 2010. So, the only people who can buy one are either Cuban or foreign residents, and not anyone thinking about a cheap car. Russian cars start around $20,000, while American cars start at $30,000 or more.