Cuban citizens will be able to freely buy new and used cars for the very first time since the island country converted to communism in 1959. Previously, citizens were only able to buy and sell cars without government approval if they were built before the revolution, which accounts for the spectacular array of vintage American metal on the island, according to a report by Automotive News.
But changes two years ago allowed newer models to be sold to individuals, provided they obtained approval from the country's communist government. The new regulations strip the approval process, though, as part of a push by the country's president, Raul Castro, to increase freedom for average citizens.
Castro, who took over for his ailing brother, Fidel, in 2008, has pushed for increased freedom and less government oversight in the country. Although the nation is opening up its automotive market, it may not be quite so affordable to all citizens - newer models may include a 100-percent tax, meant to fund Cuba's public transport system, according to the Communist Party's newspaper, Granma. Still, the move is likely to be good news for the growing number of private businesses in the country.Permalink | Email this | Comments
A man who lives in Miami recently posted a Craigslist ad containing 15 cars for $25,000, and he somehow managed to sell the whole collection to a Los Angeles-based buyer, according to Hooniverse. The sale list included vehicles by Mercedes-Benz, Jaguar, Lotus, Alfa Romeo and BMW, spanning 14 model years.
Apparently, the ad spurred enough hype for the seller, identified as Bruce, to write a mini-autobiography documenting his former jobs as a stockbroker and a car dealer, the expensive cars he used to own, a mob connection and more. Somehow all of it leads to why he had a collection of 19+year-old cars that he ended up selling for $1,666 each.
If you have a spare ten minutes or so, head over to Hooniverse to read Bruce's story.Permalink | Email this | Comments