Last Friday, for the first time since the communist revolution there more than 50 years ago, Cubans were able to buy new and used cars without government permission, as state owned dealerships started retail sales, but residents of the island were disheartened by markups of 400% or more that the government is framing as a luxury tax. Cubans walked away from the Havana Peugeot dealer, a state-run enterprise, shaking their heads in disgust after seeing sticker prices ranging from the equivalent of $91,000 for a 2013 206 to $262,000 for a 508. For comparison, in the UK most 508s sell for less than $42,000. That’s quite a substantial additional dealer markup. Eighty percent of employed Cubans work for the state and the average wage in the country is about $20 a month so the cars area still out of reach to the vast majority of Cubans. The tens of thousands of small private businesses that have sprung up since the introduction of economic reforms have a great need for vehicles, but they too have been priced out of the market. At those prices, don’t expect Cuba’s fleet of old American iron to be taken out of service any time soon.
It’s been a long time coming, but PSA has finally done it ; the parent company of Peugeot and Citroen is cutting 8,000 jobs and closing an assembly plant outside Paris, as the carmaker tries to cope with a sagging market and excess capacity.
Latest Car ReviewsRead more
Latest Product ReviewsRead more
- Dusterdude @El scotto , I'm aware of the history, I have been in the "working world" for close to 40 years with many of them being in automotive. We have to look at situation in the "big picture". Did UAW make concessions in past ? - yes. Do they deserve an increase now ? -yes . Is their pay increase reasonable given their current compensation package ? Not at all ! By the way - are the automotive CEO's overpaid - definitely! (That is the case in many industries, and a separate topic). As the auto industry slowly but surely moves to EV's , the "big 3" will need to be producing top quality competitive vehicles or they will not survive.
- Art_Vandelay “We skipped it because we didn’t think anyone would want to steal these things”-Hyundai
- El scotto Huge lumbering SUV? Check. Unknown name soon to be made popular by Tiktok ilk? Check. Scads of these showing up in school drop-off lines? Check. The only real over/under is if these will have as much cachet as Land Rovers themselves? A bespoken item had to be new at one time. Bonus "accepted by the right kind of people" points if EBFlex or Tassos disapproves.
- El scotto No, "brothers and sisters" are the core strength of the union. So you'll take less money and less benefits because "my company really needs helped out"? The UAW already did that with two-tier employees and concessions on their last contract.The Big 3 have never, ever locked out the UAW. The Big 3 have agreed to every collective bargaining agreement since WWII. Neither side will change.
- El scotto Never mind that that F-1 is a bigger circus than EBFlex and Tassos shopping together for their new BDSM outfits and personal lubricants. Also, the F1 rumor mill churns more than EBFlex's mind choosing a new Sharpie to make his next "Free Candy" sign for his white Ram work van. GM will spend a year or two learning how things work in F1. By the third or fourth year GM will have a competitive "F-1 LS" engine. After they win a race or two Ferrari will protest to highest F-1 authorities. Something not mentioned: Will GM get tens of millions of dollars from F-1? Ferrari gets 30 million a year as a participation trophy.