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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.

USED CAR MARKET BOUNCED BACK IN JANUARY

BCA’S LATEST Pulse report shows that average values rose in January following the disruption caused by the Arctic conditions and shorter trading period in December. The volume of vehicles being traded also increased – not surprisingly very significantly when compared to December, but also by 10% year on year. Vehicles from both the fleet & lease and part-exchange sectors recorded notable value improvements and part-exchange values reached record levels.

Toyota Camatte concept

Toyota is to display a family-oriented concept vehicle at the 2012 Tokyo Toy Show in order to promote cars to a new generation of potential drivers. The Camatte project is based around a customizable body with interchangeable body panels hung from a simple body structure and components that allows people to reengage with the inner workings of the motor car. It will be displayed in two configurations – Camatte Sora – the turquoise car – Camatte Daichi – the military-looking beige machine.