Cuba is opening up its automobile market by easing foreign car buying restrictions. The government has eliminated a special permit that strictly limited the number of people allowed to buy vehicles from the state. According to state media, the permit is being eliminated in favour of new regulations, which will be made public in the coming days.
The move means foreign car dealers could soon be able to sell vehicles to all Cuban citizens. Before, they could only sell to state-owned entities, diplomats and foreigners approved by the government.
The government has a monopoly on the sale of imported new and used vehicles. And it has required any potential buyer to obtain a special permit from the Transport Ministry authorising the purchase of a car. The permits often took months or years to obtain, creating a black market in which permit holders would often sell their permits for more than the price of the car itself.
