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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.

Mandelson to announce help for car makers

Lord Mandelson is the man charged with finding ways to fund UK Car purchases (yes, he of the dodgy mortgage debacle – at least he should know a few tricks!) as the credit crunch has dried up funding, leading to an unprecedented drop in new car sales in the UK. Mandelson is due to make a statement in the Lords just after 3pm today, outlining the help the government is going to offer to ailing car makers. Central to this package is expected to be a funding channel directly from the Bank of England to inject liquidity in to the car financing sector.

Citroen DS5 – the tease begins

Citroen DS5 - the tease begins Yet another new car being teased in the run up to the Shanghai Motor Show, and this time it’s instalment number three in the new Citroen DS range – the Citroen DS5. Following in the footsteps of the DS3 and DS4, the DS5 will be the biggest modern DS to date and the closest in size to the iconic Citroen DS cars of the past. Based on the Citroen C5, the DS5 will be innovative as well as chic if it lives up to the promise of Citroen’s intent.