Cuba 2019. Market plummets by 65% while the leader Peugeot loses share

Cuba car market
The 2017 Peugeot 3008

Cuba Auto sales in 2019 fell sharply as huge duties on registrations limit the purchase to public companies and rentals. Indeed, 1.600 units have been sold in 2019, losing 65% sales. The leader Peugeot lost some share, holding only 21%.

Market Trend

As no retail operations are yet allowed in the country, the state corporation CIMEX is the only in charge for selling vehicles.  New vehicles are sold for private customers applying a 800% tax and a 1.500% tax for used vehicles.

Just few units (less than 10% of total) are privately purchased and the rest is split by State companies – including public taxis – and rental for tourists.

The 2018 full-year sales has been revised to a level of 4.500 units, which represents the record level and a marginal increase from the previous years.

In 2019 the market plummeted severely, losing more than 65% sales, with only 1.600 units registered as the huge level of duties are imposed over import which gave to the cars sold in this Caribbean market the record of the highest price in the World, with a mid-size car costing more than a 100 square meter flat.

The undiscussed market leader remains Peugeot, despite its share fell to 21%.

Tables with sales figures

In the tables below we report sales for the Top 10 Brands

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