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Lexus wheel lock keys12/17/2023 ![]() Related: Buying a used vehicle? Spot these signs of fraud before you drive away. For example, catalytic converters contain palladium, a precious metal that’s currently more valuable than gold. However, they could also be stripped for in-demand parts. In other cases, they’re “re-vinned” and sold at auto auctions with false VINs. In some cases, vehicles are shipped overseas and resold with the original vehicle identification number (VIN). ![]() “Organized crime networks are stealing vehicles in greater volume for export internationally, with Montreal being the principal exit port for stolen vehicles.” “Thieves continue to exploit technology through relay attacks and connecting to the on-board diagnostic port, which enables them to reprogram key fobs,” according to Équité. See the complete list with year, number of thefts and number of insured vehicles from Équité Association. However, the report points out that all high-end vehicles-regardless of manufacturer-are targets for car thieves, including pick-up trucks, SUVs and luxury cars. For these organizations, the profit margins are high and the risks are low, according to the Équité report.Ĭurrently, the Honda CR-V is the most commonly stolen vehicle in Canada, followed by the Lexus RX series and Ford F150, according to Équité’s annual top 10 list. Add rental supply shortages and limited access to neon gas, and you’ve got a recipe for ongoing disruption in the auto industry.Ĭar theft isn’t just a crime of opportunity-it’s big business, largely orchestrated by organized criminal networks. In part, that’s due to continuing supply chain issues and a backlog in vehicle production, which means there’s not enough supply to meet demand. In Toronto alone, vehicle thefts have soared 300% since 2015, according to another report by the Canadian Financing and Leasing Association (CFLA). In 2022, auto thefts were up 50% in Québec and 48.3% in Ontario, according to a recent report from Équité Association, a not-for-profit organization that assists in insurance fraud and crime investigations. ![]() ![]() And according to a new report, it’s adding up to more than $1 billion in insurance claims. Auto theft is surging in Canada-particularly in Ontario and Québec. ![]()
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