Rising Values Mean Used Cars Face Increasing Theft Risk

CalAmp, a connected intelligence company helping businesses and people track, monitor and recover vital assets with real-time visibility and insights, reports its stolen vehicle recovery (SVR) solutions have successfully recovered over $1.5 billion worth of vehicles internationally from inception to date. The total includes £563 million by Tracker in the United Kingdom, €290 million by LoJack Italia and over $8 billion (MXN) by LoJack Mexico.  This marks an important global milestone in CalAmp’s history as it celebrates its 40th anniversary this year.

The importance of trackers for insurers and brokers is increasing as the values of pre-owned vehicles keeps on rising across the UK. A combination of poor stock supply on new cars, plus a reluctance by many drivers to spend 30K plus on an electric car, has pushed secondhand car prices up quite dramatically since the start of lockdown in March 2020.

CalAmp’s proven SVR solutions have used radio frequency, cellular and GPS tracking technology and direct integration and communication with local law enforcement to help consumers, automotive dealers, car rental agencies and insurers worldwide to recover their stolen vehicles. CalAmp operates LoJack’s international footprint, including Tracker in the United Kingdom, LoJack Italia, LoJack Mexico and recently launched LoJack España. There are also LoJack licensees worldwide in Belgium, The Netherlands, South Africa, Argentina, Chile, Peru, and Ecuador, among other countries.

The performance variants of the Audi A3 are a popular target for pro thieves.

In addition to cumulative figures from inception to date, CalAmp’s international entities offer insightful 2020 data on vehicle theft risks, methods and recoveries in their respective regions:

  • Tracker: In 2020, Tracker successfully recovered over £9 million worth of vehicles in the United Kingdom. The top three most stolen and recovered vehicles were Range Rover models—the Sport, Vogue and Autobiography. Notably, Range Rover and Land Rover vehicles accounted for 37% of all stolen vehicles recovered by Tracker in 2020. Further analysis showed that 93% of all recovered vehicles were stolen as a result of keyless car theft including relay attacks, where thieves hijack the car key’s signal, remotely unlock the doors and start the engine.
  • LoJack Italia: In Italy, LoJack Italia recovered €38.4 million worth of vehicles last year. Incredibly, the most stolen vehicle was the Fiat Panda, followed by the Fiat 500X and Toyota RAV4. The theft of sport utility vehicles was 41% of the total vehicles stolen in the second half of 2020 in Italy. The most common theft method was keyless car theft accounting for 28% of thefts in Italy in 2020—up 3% from 2019.
  • LoJack Mexico: In 2020, LoJack Mexico recovered nearly $523 million (MXN) worth of vehicles. The most stolen vehicle was the Volkswagen Vento, followed by the Volkswagen Jetta and Seat Ibiza. While keyless car theft including relay attacks, cloned keys and key jammers were all methods used, 82% of thefts in Mexico were achieved through threats of violence.

“Even as thieves worldwide look to more sophisticated means of vehicle theft, our global customers can find peace of mind knowing that our connected car solutions are equipped to help them protect their investments and prevent potential losses. We’re proud to be making a difference and creating safer communities in every country across our international footprint,” said Jeff Gardner, CEO of CalAmp. “We have continued to expand our connected car capabilities to provide automotive OEMs, corporate fleets, car rental agencies and drivers even greater visibility, intelligence and support for their vehicles on the road.”

For more information about CalAmp’s full range of connected car solutions, please visit: www.calamp.com/solutions/connected-cars.

About alastair walker 6830 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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