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Posts Tagged ‘Cuban car resale/trade law’

Cubans Can Now Buy and Sell Post-Revolution Cars

October 6th, 2011

Cuban cars

We’ve all seen the photos of crumbling buildings, bad streets and 1950s cars that have been made, somehow, to survive.

Like all these old cars, the economy in Cuba has been crumbling and disintegrating over the years, yet manages to hang on. Now, as of October 1, a new law permits buying and selling of post-1959 cars by the general public, which likely encourage many of the owners of pre-1959 cars to trade them in on newer ones. There are also agricultural and small business reforms.

The owners of old cars may or may not benefit in terms of resales. But the economy surely will—and it’s about time.

This move finally opens a market closed for 50 years to U.S. auto companies and parts suppliers (to repair the old cars). It permits trading of the old cars, some of which are classics, some of which will come to the U.S. We’ll show you a few more pix after the break.

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