PHOENIX (3TV/CBS 5) — For the past few years, catalytic converter thefts have been a big problem for Arizona drivers as well as the insurance industry. But there’s good news. Apparently, thefts are trending down, including here in Arizona.
Almost every gas-powered car has a catalytic converter and the auto part itself is worth a lot of money. Thieves stealing catalytic converters because they’re easy to steal. It can be done in less than 30 seconds. It’s been a problem nationwide. “We’ve seen, you know, an increase since 2020. Every year, we’ve seen drastic increases,” Amy Harris of State Farm Insurance told On Your Side. Car Exhaust
However, Harris says there may be encouraging news. The latest numbers from State Farm indicate catalytic converter thefts are trending down across the nation. For example, during the first half of 2022, State Farm had 23,000 catalytic converter claims totaling a whopping $57 million. However, for the first half of this year, State Farm handled just over 14,500 claims for a total of $41 million.
“And we’re finally, thank goodness, starting to see that number start to trend down,” she said. “The first half of 2023 is starting to look way better compared to the past three years, and we’re hoping it continues to go that way.”
So, what are some of the contributing factors helping to deter these thefts? Well, some drivers have been etching their Vehicle Identification Number, referred to as the VIN, on the catalytic converter. Another reason is that states have increased the theft of catalytic converters to a felony. And finally, stolen catalytic converters are not worth as much anymore these days. Thieves steal the part for its precious metals. However, the price of palladium and platinum has fallen drastically.
“Like, all of these things, we think are helping to get these numbers down. So, it’s certainly going in the direction we like to see,” Harris said.
While any gas-powered vehicle can be targeted, the top vehicles with stolen catalytic converters are the Ford F-Series pickup trucks, followed by the Honda Accord and the Toyota Prius. The list continues with the Honda CR-V, Ford Explorer, Ford E-150 Econoline, Chevy Equinox, and Chevy Silverado.
See a spelling or grammatical error in our story? Please click here to report it.
Do you have a photo or video of a breaking news story? Send it to us here with a brief description.
Exhaust Tube Copyright 2023 KTVK/KPHO. All rights reserved.