During the pandemic, catalytic converter theft hit an all-time high, nearing epidemic levels on par with the Kia/Hyundai theft epidemic. But there’s good news: thefts have taken a nosedive!
Here’s Five Fast Facts On Catalytic Converter Theft:
- 🚗 Steep Hill - The National Insurance Crime Bureau has reported claims data that show the average number of catalytic converters is down from 85,430 in 2022 to 26,742 in the first nine months of this year. If you’re keeping track, that’s a 43% drop.
- 🚘 Neutral - Don’t celebrate yet, though. The number of reported thefts in 2019 was just 3,389. So we still have some ways to go before we’re back to normal.
- 💨 Downshift - Thefts were occurring because the converters are made from platinum, palladium, and rhodium. Those metals drastically spiked in value. For example, rhodium went from $3,000 in 2019 to $26,000 in 2021. Since then, prices have dropped back to pre-pandemic levels.
- 👮 Bad Boys - Law enforcement has stepped up, too. An $8.2M catalytic converter theft ring was brought down in June. The feds busted a $545M ring in November of 2022.
- 🚓 Interstate Enforcement - A total of 21 states have enacted laws focusing on catalytic converter theft, and 19 others have similar laws up for approval.
🔥Bottom line: Less theft is a good thing no matter how you look at it. Hopefully this trend continues and the good guys can keep taking the bad guys out from under our cars and off the streets.
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