{"id":213412,"date":"2020-02-08T11:03:19","date_gmt":"2020-02-08T16:03:19","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=213412"},"modified":"2020-02-08T11:03:19","modified_gmt":"2020-02-08T16:03:19","slug":"cuba-authorizes-sale-of-automobiles-with-10-percent-discount","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/cuba-authorizes-sale-of-automobiles-with-10-percent-discount\/","title":{"rendered":"Cuba authorizes sale of automobiles with 10 percent discount"},"content":{"rendered":"

The Cuban government announced this Thursday that it will sell imported vehicles in freely convertible currency to individuals as of next February 24 with a 10 percent discount, as part of the measures put in place in order to collect foreign exchange and alleviate the economy\u2019s liquidity crisis.<\/span><\/p>\n

The commercialization of automobiles was already being carried out in the country <\/span>since 2014<\/span><\/a>, but then they were only sold in Cuban convertible pesos.<\/span><\/p>\n

In announcing the new measure, Cuban Minister of Transportation Eduardo Rodr\u00edguez said that decision is based on \u201cthe legitimate need of many citizens to have a means to move when public transportation, logically, fails to cover the entire vast demand for daily mobility.\u201d<\/span><\/p>\n

The minister acknowledged that this decision will not have a direct impact on the majority of the population, but explained that the revenue generated from the sales will go to a fund to acquire spare parts in order to reinstate buses and other vehicles of the public transportation service that today are paralyzed, as well as restoring the investment plans for those means.<\/span><\/p>\n

https:\/\/oncubanews.com\/cuba\/un-carro-solo-un-carro\/<\/p>\n

For the time being, only in Havana<\/b><\/p>\n

Minister of Finance and Prices Meisi Bola\u00f1os specified that the prices are the same as those with which the cars have been commercialized, although with a 10 percent commercial discount.<\/span><\/p>\n

The retail sale of automobiles entered into force in Cuba five years ago as part of the reforms to eliminate bans and \u201cupdate\u201d the socialist economy on the island, but the measure led to a great deal of criticism among Cubans due to the high prices set by the government.<\/span><\/p>\n

When the market was then opened to entities authorized to sell motor vehicles, rates ranged from 20,000 to 110,000 dollars and only two models with more than a decade of use were offered at about 15,000.<\/span><\/p>\n

On the upcoming commercialization of vehicles, the first vice president of the Cimex corporation, Iset V\u00e1zquez, said that in principle it will be carried out only in Havana in that company\u2019s agencies that are enabled and will later be extended to the rest of the country.<\/span><\/p>\n

The import of new vehicles and specific parts, such as different engine models, is planned based on the request made by customers to the marketing agencies, according to the executive.<\/span><\/p>\n

https:\/\/oncubanews.com\/cuba\/el-mercado-automovilistico-en-cuba-surrealismo-antillano\/<\/p>\n

List of marketable products in foreign currencies increases<\/b><\/p>\n

The Cuban government authorized in October last year the purchase of appliances in high demand, such as TV sets, washing machines and refrigerators, as well as automobile spares and parts and other merchandise through debit cards, backed by a bank account in freely convertible currency.<\/span><\/p>\n

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1\/4 Mesa Redonda sobre nuevas medidas del comercio en divisas. Lo m\u00e1s sorprendente: tratar de validar el \u00e9xito de una acci\u00f3n econ\u00f3mica sin una medici\u00f3n cuantitativa de sus efectos. Lo m\u00e1s interesante: la expansi\u00f3n de la dolarizaci\u00f3n parcial de la econom\u00eda<\/p>\n

— Pedro Monreal (@pmmonreal) February 7, 2020<\/a><\/p><\/blockquote>\n