There was a pointy enhance within the variety of catalytic converters being stolen throughout the nation, leading to autos stacking up in dealership service departments as clients endure pricey and prolonged repairs and producers, police and legislators seek for a technique to curb the thefts.
The Nationwide Insurance coverage Crime Bureau mentioned there have been 14,433 catalytic converter thefts reported within the U.S. in 2020, the final 12 months figures have been accessible. That is a fourfold enhance from 3,389 theft circumstances reported in 2019. In 2018, there have been simply 1,298 thefts reported. Officers hinted that 2021 figures might present a dramatic enhance.
On sooner or later in April in Houston, AutoNation Toyota Gulf Freeway had 66 autos ready to have their catalytic converters changed after thieves stole them. Two of these autos have been again for a second time after being focused once more.
Whereas any automobile can fall prey to thieves, some Toyota fashions are coveted as a result of their catalytic converters have a better focus of treasured metals than these of different producers, in order that they command greater costs.
Pickups resembling Toyota’s Tundra and Tacoma are well-liked with converter bandits as a result of they will have as much as 4 converters and sit comparatively excessive off the bottom. That makes it simpler for thieves to slide beneath and use a cordless noticed to take away the mufflerlike converters, mentioned Craig Fletcher, service director at AutoNation Toyota Gulf Freeway. Toyota Prius hybrids and SUVs and sure Honda four-cylinder autos are additionally significantly prized, as are Ford F-Collection and Ram 1500 pickups.
“It has been a continuing downside for the final 12 months,” Fletcher mentioned. “Roughly a 12 months in the past, the value of the supplies that Toyota makes use of for the converters went via the roof.”
Catalytic converters comprise only a few grams of pricey metals resembling platinum, palladium and rhodium. The uncommon components react with combustion gases to cut back the quantity of hydrocarbons, carbon monoxide and nitrous oxide in a automobile’s exhaust.
Rhodium’s present market value is about $16,600 per ounce. Platinum is buying and selling for round $919 an oz., whereas palladium is within the neighborhood of $2,200 per ounce.
The skyrocketing worth of the converters makes complete auto insurance coverage vital, mentioned Sgt. Tracy Hicks of the Houston Police Division’s Auto Theft Crime Job Drive. Changing catalytic converters can run as excessive as $11,000, relying on the automobile and any collateral injury to objects resembling wiring and gas, transmission or coolant traces.
Hicks mentioned sure Toyota converters have been bringing $2,000 when the value of the metals skyrocketed final 12 months.
Relying in the marketplace value of metals, the powertrain and sort of auto, recyclers can pay as much as $1,500 for a single catalytic converter, mentioned Doug Seliger, advertising and marketing director of PGM of Texas, which focuses on catalytic converter recycling. A set of 4 Tundra converters, for instance, is at present bringing $500 to $1,000, he mentioned.