| Grey Import |
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The term grey import, in reference to the Grey Economy refers to an item that has been imported into a country, legally, but without the agreement of the manufacturer. The term Parallel Import may also be used. '''Grey import vehicles''' are motor vehicles and motorcycles, which may be imported, either brand new or used, from another country, where they are more readily available and competitively priced. The export of used motor vehicles from Japan is a large global business, as rigorous road tests and high depreciation make such vehicles worth very little after six years, and strict environmental laws make vehicle disposal expensive. Consequently, it is profitable to export them to other Right Hand Drive (RHD) countries, such as New Zealand , the Republic Of Ireland , United Kingdom , Malta or Cyprus . Some have even been exported to countries, such as Russia and Burma , where they have proved popular with local buyers, despite the fact that these countries drive on the right. There have also been exports of used cars from Singapore , where there is a requirement for cars more than ten years old to be scrapped or exported. As a result, thousands of so-called 'time-expired' cars are exported every year, making Singapore the second largest exporter of used cars after Japan. |
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