automakers salivate over oasis cuba
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Automakers salivate over 'oasis' Cuba

Arab Today, arab today

Arab Today, arab today Automakers salivate over 'oasis' Cuba

Cars are seen reflected on lamp shades
Detroit - AFP

The world's most prominent automakers are hungrily eyeing up Cuba after its rapprochement deal with the United States
But trade restrictions that are still in place for Americans and a litany of concerns about Havana's policies means they are unlikely to dive in any time soon.
Washington and communist Cuba in December began the painstaking process of restoring diplomatic relations and easing the five-decade-old trade embargo.
President Barack Obama declared that the United States was ready for a "new chapter" in relations.
It still needs Congress to fully lift the embargo -- and if that happens it could take some time -- but businessmen are already looking for ways to establish an early position in a country they expect could surge economically with a bit more liberalization.
Automakers at the Detroit auto show were not talking out loud about the mouthwatering possibilities, but the potential for the largest island in the Caribbean, with a population of 11 million, was on the minds of many.
"We're very encouraged by the news that the countries intend to normalize relations. We will certainly evaluate any opportunities that may present themselves," said Patrick Morrissey, a General Motors spokesman.
"We are studying the eventual opportunities for GM in Cuba."
Christine Becker, a spokeswoman for Ford, said they also were keeping an interested eye on Cuba
"We will review that initiative in order to determine its potential impact for the industry. We have to better understand it. We don't rule anything out for now," she said.
South Korea's Kia, which produces some of the lowest-priced cars on the US market, said it welcomed the change in policy toward Cuba, but told AFP it too had no tangible plans for the island's market.
- 'Cuba an oasis' -
Experts identify a number of hurdles automakers are going to have to overcome in Cuba, which is famous for the decades-old classic American cars that ply its dusty and unforgiving roads.
The US embargo and other economic isolation forced by the communist economy has denied car parts for those rich enough to have them, forcing skilled Cuban mechanics to keep them alive for decades.
Akshay Anand, an analyst at the industry specialist Kelley Blue Book, told AFP: "No doubt there's a potential growth. Cubans love American cars, the demand is there.
"You can look at it and say Cuba is an oasis for the automakers."
The buying power of Cubans remains low, but with investment slowly beginning to flow in to a range of businesses from agriculture to tourism, a surge in demand for modern vehicles is seen as inevitable.
But the current limited US opening leaves most investment and sales by Americans tightly restricted.
It allows Americans to sell farm equipment to support Cuban farmers; it is not clear if that will extend, for instance, to pickup trucks.
In the attractive shape of the vintage cars on Cuba's roads, Detroit has an indelible history in the island's motoring sector, readily visible to visitors.  
Sometimes flashy and often crudely patched and rickety Pontiacs, Plymouths, Dodges and Chevrolets make up the island's 70,000 "almendrones," cars affectionately called large almonds for their rounded shape.
There are also Peugeots, Skodas, Ladas and Chinese models that entered the country between the 1960s and 1990s.
They too depend on the skills of Cuban craftsmen-mechanics to keep them chugging along in the absence of replacement parts.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

automakers salivate over oasis cuba automakers salivate over oasis cuba

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

automakers salivate over oasis cuba automakers salivate over oasis cuba

 



GMT 14:49 2017 Wednesday ,21 June

Merkel vows not to give up on US free-trade deal

GMT 10:54 2017 Saturday ,07 October

Argentina frets over possible Messi-less World Cup

GMT 17:22 2017 Wednesday ,23 August

GCC – Thai relations discussed

GMT 03:19 2017 Tuesday ,12 September

July24th-August23rd

GMT 18:35 2017 Wednesday ,26 April

NG Information Infrastructure Executive Technical

GMT 05:05 2017 Wednesday ,20 December

WFP suspends refugee food aid scheme

GMT 10:16 2016 Tuesday ,13 September

When batteries explode

GMT 10:57 2017 Tuesday ,19 December

Marie Moatti leaves Hermès

GMT 18:41 2016 Monday ,31 October

Dozens dead as rebels fight to break Aleppo siege

GMT 06:05 2016 Sunday ,09 October

Early nutrition education gains traction

GMT 17:54 2017 Tuesday ,12 December

Russia suspends diplomatic presence in Yemen

GMT 04:22 2017 Tuesday ,15 August

White House Chief of Staff Resigns
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday