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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: Snowshoe	7/22/2008 5:11:04 AM
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Used SUVs still have market overseas wreg.com Associated Press - July 20, 2008 7:44 PM ET LITTLE ROCK (AP) - Buying a used gas guzzler isn't necessarily a money-losing investment. Traders in used vehicles have been buying SUVs that are being shunned by American car owners and selling them where demand remains high. Drivers in a number of oil-producing countries in the Middle East, West Africa and Mexico enjoy subsidized gasoline and can afford the low-mileage vehicles. United Traders of Little Rock specializes in shipping vehicles to Saudi Arabia, the United Arab Emirates and Kuwait. The company is owned by four brothers - Abdul, Hani, Troy and Jamal Abunasrah. Abdul Abunasrah, a U.S. citizen who was born in Kuwait said his company ships through the port of Jacksonville, Florida, which moved 500,000 vehicles each year. United Traders sells used vehicles bought at auction to U.S. car lots. Those that don't sell are exported. The brothers started the company in Helena-West Helena in 1992 and moved it to Sherwood in 2004. The company sells between 150 and 200 vehicles per month, and estimates half are being sent overseas.

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