Rising Used Values & Spares Shortages Could Be Driving Car Thefts

Vehicle theft is on the rise in the UK and the shortage of spare parts could be one of the primary factors, according to AX Track.

An investigation by AX Track puts a spotlight on the startling rise in vehicle thefts, which also increased by nearly a quarter (23.9%) between 2021 and 2022.  London and the West Midlands experienced the highest number of vehicle thefts in the UK, with 32,766 and 12,429 incidents respectively in 2022 according to the data obtained by the vehicle tracing and recovery experts at AX Track.

Many regions saw a large increases of over 50% between 2020 and 2022, including Hampshire, Devon & Cornwall, Kent, Humberside, West Midlands, Northumbria and Staffordshire.

The Freedom of Information (FOI) requests have uncovered the full extent of the rebound in car theft since the Covid-19 pandemic began in 2020, comprising of data received from 40 out of 45 FOIs issued to UK polices forces.

With average used car values rising from an estimated £12,800 in 2019 to £17,654 by February 2023 (an increase of 38%), the ballooning cost of second-hand cars and their components now provides an even more lucrative financial return for criminals. While often sold as complete cars, criminals frequently choose to break them up and sell the parts domestically or internationally. An attractive market for criminals, the global automotive aftermarket for replacement parts and accessories is estimated at $390 billion.

Within the stats some figures stand out. For example although North Wales is relatively low risk for car theft, with under 300 vehcles reported stolen each year, the percentage increase in 2022 was 17%, which suggests that there could be an organised gang targeting what is seen as a soft area.

AX Track has also recorded an increase in vehicles stolen with keyless ignition systems. Many social media channels feature videos on scanning devices being used, so physical deterrents like steering locks or wheel clamps could be useful. Tracker devices aslo increase the odds of getting a stolen car back quite dramatically.

Neil Thomas, Director of Investigative Services at AX Track, said: “The technology-driven tactics of today’s sophisticated criminals are a far cry from the opportunist teenagers of the past who would steal cars for fun.

“Our study shows a huge rebound since the start of the Covid-19 pandemic, but it many cases we are seeing thefts surge ahead of the pre-pandemic figures from 2019. It’s a worrying trend, but not entirely unexpected given the increasingly sophisticated techniques that criminals are deploying.

About alastair walker 19497 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

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.