Brother can you spare $264k?

Photos courtesy of CNN's Patrick Oppmann.

And we thought the price of "public" Internet in Cuba was high...

I'm not an economist, so can an economist please explain the above pricing scheme to me? (See link to BBC article below).

• The good ole law of supply (very limited) and demand (altísima)?
• Monopoly pricing?
• A special deal with Geely, whose new cars are much cheaper (see second photo above) at a mere $42k?

Talk about two steps forward and one step back! But I assume these prices will drop over time as happened with cell phones.

Still, I guess this just proves the most savage form of capitalism is found in (formerly) socialist countries...

BBC Mundo - "El exorbitante precio de los autos en Cuba: hasta US$262.000 por un Peugeot"