John B. Hege
The Automotive Gray Market: An Inside History
The Automotive Gray Market: An Inside History
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During the 1970s and 1980s, innovative dealers exploited a legal loophole to import exotic cars never intended for sale in America, leading to the emergence of the gray market. The value of the dollar made car shopping in Europe a bargain hunter's dream, and middle-class Americans could afford Mercedes or BMWs. However, the regulatory system collapsed, leading to a backlog of paperwork for the EPA and DOT.
Format: Paperback / softback
Length: 162 pages
Publication date: 18 April 2022
Publisher: McFarland & Co Inc
In the 1970s, car enthusiasts in the United States grew weary of models manufactured under stringent pollution and safety regulations. To circumvent these regulations, a group of innovative dealers exploited a legal loophole designed to allow U.S. soldiers and diplomats to return from abroad with their vehicles. This loophole allowed them to import exotic cars that were never intended for sale in America.
During the 1980s, the value of the dollar surged, making car shopping in Europe an attractive proposition for bargain hunters. A network of unauthorized gray market dealers emerged, bypassing factory channels to offer European cars at significantly lower prices. Middle-class Americans suddenly found themselves able to afford luxury vehicles like Mercedes and BMW, which were previously out of reach.
However, the influx of these unauthorized imports posed a significant challenge to the regulatory system. As applications for importation increased, the U.S. Customs and Border Protection (CBP) became overwhelmed with paperwork. The regulatory system was unable to keep up with the demand, leading to a collapse in enforcement.
This period in the automotive industry is often misunderstood but fascinating. It showcases the ingenuity of importers who found ways to bring new and exciting cars to American consumers while the EPA and DOT struggled to manage the influx of paperwork. It also highlights the changing attitudes towards luxury vehicles and the impact they had on the automotive industry as a whole.
Weight: 275g
Dimension: 229 x 152 (mm)
ISBN-13: 9780786463732
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