From what I understand, the grey-market conversion basically fitting all kinds of NAS related components, ie: CATs, side marker lights, etc. SMOG certifications and DOT certifications (whatever those are).
All I know is, you can go through the process legitimately, provided it's a 1993, but be prepared to have deep, very deep pockets. And I think that's what the guy from Skytop Rover did. I'm sure if you were to import a good condition 1993 CT 110 yourself, it'll be way more than that $65K asking price. That's were I draw the line IMHO... I mean, they're cool trucks but not $65K cool!
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