Since opening its doors for bookings on January 9th, the Mercedes-Benz office in Cuba has seen a surge of interest from locals eager to purchase vehicles under the new Decree 119/24. This regulation allows individuals in Cuba to buy cars in dollars. The commercial office in Havana announced on Facebook that the overwhelming demand has led to a saturation of appointments, resulting in many potential buyers being placed on a waiting list.
The company expressed gratitude to Cubans for their trust and stated that the contracting process is being managed in an orderly way, though there is a significant backlog of registrations. Interest continues to grow due to the new law, effective January 1st, which governs the import, sale, and transfer of vehicles on the island, the company noted.
MCV Comercial S.A. clarified that appointments for vehicle purchases are assigned based on a registration order established in October, leading to longer-than-expected wait times. Although not all models are currently available, ongoing imports are being made to meet the rising demand. Vehicles will be ready for purchase as they arrive, with prices ranging from $51,000 to $190,000, according to a recent company post.
The company emphasized that the process is entirely transparent and straightforward, with no intermediaries, installment payments, or parallel procedures. On Thursday, the firm celebrated the sale of its first car to a private customer in Cuba, sharing the moment the first contract was signed with a Cuban client.
This event occurs amidst a new policy easing restrictions on foreign vehicle sales, underscoring the growing divide within the island. While 90% of the population lives in extreme poverty, according to recent international reports, an emerging sector can afford cars that, according to the Mercedes-Benz catalog released Wednesday, start at a minimum of $50,000.
Understanding Cuba's Vehicle Market Changes
What is Decree 119/24?
Decree 119/24 is a regulation that allows individuals in Cuba to purchase vehicles in dollars, marking a significant shift in the country's vehicle market policies.
Why are there long wait times for buying cars in Cuba?
Long wait times are due to the high demand and a registration system that began in October, which processes appointments based on the order of registration.
How does the new policy affect Cuba's car market?
The new policy eases restrictions on foreign vehicle sales, allowing more individuals to purchase cars, but also highlights the socio-economic disparities within the country.