Buying A New Car In Cuba Means You're Stinking Rich

For the first time since 1959, residents of Cuba can buy new cars, but only if they've got more money than sense

18 May 2015

Peugeot 508 cuba

There's good news and bad news for Cubans looking for a new car. The good news is; for the first time since 1959, they can buy a new, imported car. The bad news is, it's crazily expensive.

At the moment the state has a monopoly on new car sales, and has ramped up the prices with some ludicrous mark-ups. So, if you want something like a hum-drum Peugeot 508 - priced at £17,695 and up in the UK - how much do you need to stump up? £160,000.

With the crazy prices of new cars, expect the Cuban tradition of keeping old Yank tanks alive to stay

When we think of cars in Cuba, this is what we usually have in mind

We've seen the crazy car prices in other countries such as Singapore, but this takes it to a whole new level. Unsurprisingly, given that the average wage in Cuba is the equivalent of £12 a month, this hasn't gone down particularly well. As all but the richest Cubans are excluded from the opportunity of buying a new car, the tradition of keeping old Yank tanks alive with Soviet-era running gear looks set to stay.