As part of the new policy for the commercialization of motor vehicles, their importation, and the transfer of ownership, the Cuban government announced it will sell decommissioned tourist rental cars in national currency. In a report aired on the official program Mesa Redonda, the regime stated that the company SASA will be able to sell these vehicles in Cuban pesos, sourced from the tourism sector or other authorized entities.
These vehicles must be declared non-commercial by CIMEX, either due to technical write-offs from years of use or other causes, as explained in the television broadcast. Additionally, it was mentioned that in cases of significant deterioration, customers must be able to restore the vehicles. Given the high demand exceeding supply, there will be a waiting list, and availability will be a determining factor. Information on this process will be accessible on a website where customers can check their status and follow up on their requests.
The sale in national currency is limited to these decommissioned rental vehicles, which have accumulated thousands of kilometers and are offered at extremely high prices. With new regulations, all cars sold in convertible currency will primarily be imported vehicles.
Eduardo Rodríguez Dávila, Minister of Transportation, provided further details on the updates, which included a significant price reduction for imported vehicles. Rodríguez Dávila acknowledged that cars are currently sold at more than 500 percent of their value, but this will change. He noted that a car currently priced between 55,000 and 60,000 USD will cost around 15,900 USD under the new measures.
The new pricing structure will be the same for both individuals and legal entities, equalizing the cost of vehicles sold to Micro, Small, and Medium Enterprises (Mipymes) and private individuals, who previously had to pay more.
"The price is formed based on the import cost including tariffs, plus the commercial margin of the dealer, reduced from 30% to 20%, along with a special differentiated tax ranging from 0% for electric vehicles assembled in Cuba to 35% for high-end vehicles," explained the minister.
“For those who want to understand how much a vehicle will cost in convertible currency in the future in Cuba, take an example where a vehicle has a supplier value of 10,000 USD. The selling price to the buyer will be around 15,900 USD. However, under the current pricing rules, that same vehicle would cost more than 50,000 USD."
Individuals will be able to purchase motor vehicles in convertible currency from authorized dealers IMPEXPORT and CIMEX S.A, with the addition of the joint venture company MCV Comercial S.A.
Understanding the New Cuban Vehicle Sales Policy
In light of the new policies on the commercialization of motor vehicles in Cuba, many questions have arisen regarding the details and implications of these changes. Here are some frequently asked questions and their answers:
What types of vehicles will be sold in national currency?
Only decommissioned tourist rental vehicles, which have been declared non-commercial by CIMEX, will be sold in national currency.
How will the new pricing structure affect vehicle costs?
The new pricing structure will significantly reduce the cost of imported vehicles, aligning prices for individuals and legal entities, and could lower prices by several thousand dollars.
Where can individuals purchase these vehicles?
Individuals can purchase motor vehicles in convertible currency from authorized dealers IMPEXPORT, CIMEX S.A, and the joint venture company MCV Comercial S.A.