Many people have never been lucky (or rich) enough to go on an overseas cruise.  But it’s quite possible that their car, especially if it’s a highly coveted SUV, may be going on one in the not too distant future.  Car theft, with the intent to ship the vehicle overseas, is becoming a growing trend.  Those individuals most likely to have a car stolen are those that live or work in or near an international port city, such as New York, Newark, Baltimore, Houston, Tampa… anywhere that there is an international shipping port, you’ll find stolen cars.

Federal Bureau of Investigation data suggests that as many as twenty percent of all stolen cars are intended for overseas shipment, often to third world countries including Asia, Central and South America and Africa.  And if the car or SUV is a high end one, those numbers go even higher - as much as eighty percent.  Why is that?  Simply the first law of economics:  Supply and demand.  You won’t find a Mercedes Benz dealership in Addis Ababa, but you likely will find a dealer who sells stolen Mercedes Benz cars and SUVs in Addis Ababa.  Yes, even within a country as poor as Ethiopia there are individuals who can afford a brand new Benz, at even twice the sticker price.  Supply and demand at its best; Adam Smith would be proud.

Unfortunately, it’s relatively easy to ship a car overseas, even if it’s stolen.  Incorrect VIN numbers, forged paperwork, unscrupulous freight forwarders, overworked customs agents in America and corrupt customs agents in third world countries, all contribute to the growing numbers.

So, if you live or work in a port city, and have a nice car or SUV that you’d like to keep for a while, it’s all the more imperative that you have some form of anti-theft device installed on your car.  And a comprehensive insurance policy that covers car theft couldn’t hurt, either.