Show A new report out from the Highway Loss Data Institute (HLDI) shows that the second-generation Toyota Prius is 40 times more likely to be subject to theft claims than the average vehicle. The theft isn't necessarily the entire vehicle, but one particular part of it, the catalytic converter. Last year, theft claim frequency for the 2004-2009 Toyota Prius was 58.1 claims for 1,000 insured claim vehicle years. Overall theft losses from those claims were about $137 on average, a large upswing from the $3 average in 2016. "Car thieves know their market," HLDI senior vice president Matt Moore said in a press release. "The demand is high for catalytic converters, and they seem to know which ones command the highest prices." Prii's catalytic converters contain platinum, rhodium, palladium and other precious metals that have risen in price recently. More precious metals are needed for a hybrid's catalytic converter because of the hybrid engine's heat demands. Precious metals price increases are due to low mining production in recent years, with the pandemic heightening the trend. Recent upgrades in fuel economy standards have also created the need for more precious metals within catalytic converters. According to the National Insurance Crime Bureau, catalytic converter thefts have risen from 100 reported incidents per month in 2018 to 1,200 a month in 2020. Data available from marketplace website AutoCatalystMarket.com shows that the average scrap price for a GD3+EA6 catalytic converter found in a second-generation Prius is $1,022. A similar converter found in the model's third generation nets around $548. While specific vehicle components reported stolen aren't included in the HLDI database, extrapolations can be made from the dollar values in typical claims. During the 2019-2020 period, the data shows a rise in claims between $2,501 and $3,000, typically the amount it costs to replace a catalytic converter and exhaust system with the deductible subtracted. Bulk scrap buyers with the equipment necessary for processing the metals from components have boomed as prices have risen. Most states require buyers to record some form of identification from the seller and may have a cap on payments. Because catalytic converters aren't stamped with vehicle identification numbers, identifying stolen components sold for scrap is difficult. Catalytic converter thefts have been happening all over the country and vehicles of all makes and models have been victimized. It’s even happened to some of Jalopnik’s staff. But out west, specifically in the haven coastal states for hybrids and EVs — like California and Oregon, thieves are targeting the Toyota Prius, the L.A. Times reports.
And it’s not just any Prius or new for that matter. Thieves want the converters out of the second and third generation 2004-2009 Prius. And remember, this was when the Prius was hotter than the heat wave we’re experiencing. The second-gen Prius was sought after by everyone, from celebrities who wanted to appear green because that was the thing, to the regular folk.
People were waiting months to get their hands on them. So, between the sales of the two generations combined with Toyota’s reliability, there are still millions on the road for
thieves to choose from. Data shows converter thefts as a whole are up across the country. In other parts of the country, the main vehicles being targeted are Honda Accords and Ford F-150s. But the data, provided by Carfax, shows something interesting. In the west, the Toyota Prius is the number one target for these thefts. You’re probably wondering why a random hybrid model would be a theft target. It’s all about the payout. The precious metals found in catalytic converters are found in higher concentrations in ones that are fitted to hybrids. The
Times says that while a converter from an F-150 can fetch $150, a Prius converter can get a person more than $1,000. Insurance companies
are getting hit hard by theft claims from Hawaii to New Mexico. Data from the Highway Loss Data
Institute shows that thefts spiked some 850 percent from 2019 to 2021. And while police departments are suggesting security measures like parking in well-lit areas and locked garages, sadly nothing seems to be stopping the thefts. Which cars are most likely to have catalytic converter stolen?Cars Most Likely to Have Their Catalytic Converters Stolen Nationwide. 1985-2021 Ford F-Series.. 1989-2020 Honda Accord.. 2007-17 Jeep Patriot.. 1990-2022 Ford Econoline.. 1999-2021 Chevrolet Silverado.. 2005-21 Chevrolet Equinox.. 1997-2020 Honda CR-V.. 1987-2019 Toyota Camry.. Why would someone steal a Prius?Thieves are looking for old Priuses in order to steal their catalytic converters, which contain precious metals that command a premium of more than $1,000 at auto parts recycling facilities.
How many catalytic converters does a Toyota Prius have?Your Prius actually has two catalytic converters, joined by a small run of pipe. This whole unit is usually referred to as “the catalytic converter” on a Prius.
|
Why are toyota prius catalytic converters being stolen
Related Posts
Copyright © 2024 hanghieugiatot Inc.
