Cuba will allow the retail sale of new and second-hand motorcycles, cars, vans, and minibuses, the Council of Ministers approved it during the most recent session of that body and announced by Cuban president, Raul Castro.
The new policy for marketing motor vehicles in the country revoke the authorization letter issued by the Ministry of Transport, as well as other mechanisms to approve the purchase of those vehicles to the State, Granma newspaper reported today.
This updating provides retail prices similar to those the market recognizes among particular vehicles, and includes Cuban and foreign residents in the country, as well as foreign legal entities and the diplomatic staff. The free sale will begin gradually and give priority to those who currently have authorization letters.
According to the report, the money collected from those sales will be used to create a fund destined to the development of the country’s public transportation, which is one of the priorities of the Cuban State.
The rules to transfer the property and prohibit the sale of national and foreign legal entities and individuals remain with these new regulations.