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Looks Like Cuba is Back in Business!

Obama’s announcement didn’t specify changes for automakers, but Cuba is clearly in desperate need of American vehicles. Cuba has just 650,000 cars currently on the road… and half of them are government-owned. As many as 60,000 of them were made before 1959. China’s automakers are already hard at work, with one company, Geely, making up 50 percent of all Cuban auto imports. But the local market is still a government-run monopoly, despite a recent relaxation of the rules: it’s cheaper on average to buy a house on average than to buy a car.
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