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Cuba removes new car purchase restrictions

Granma, the Communist Party’s newspaper of record in Cuba, said Wednesday that the Council of Ministers approved regulations that “eliminate existing mechanisms of approval for the purchase of motor vehicles from the state.” That means the sale of new and used cars will be allowed to the public. Up until now, Cubans could buy and sell vehicles to each other, but they had to request permission from the government to purchase a new vehicle -- the main reason for the island's unique automotive landscape. The new laws will be enacted gradually, according to Granma, with a set minimum price.

Ford, Hyundai, Toyota lead industry to 15 percent gain

Ford, Toyota, Subaru and Hyundai Group spurred a year-end U.S. sales rally that took some sting out of a painful year. Overall, December sales of 1,030,096 light vehicles rose 15 percent from December 2008, when the credit crisis and a deepening recession dragged industry demand to 27-year lows.

GM recalls 258,000 SUVs for fire hazard

General Motors is recalling a family of SUVs, including the Chevrolet TrailBlazer, GMC Envoy, Saab 9-7x, Buick Rainier and Isuzu Ascender, after reports of 28 fires caused by short circuits in the power windows and locks. The recalled SUVs are from model years 2006 and 2007. In total, GM estimates 258,000 vehicles will need repairs.