"Catalytic converters are valuable because of the precious metals in them, which fetch high prices on the black market. Additionally, the part is quickly and easily stolen, however, based on their placement it is not easily obvious when they are taken," Rich Randazzo, president of Brownyard Claims Management, Inc., told PropertyCasualty360.com. (Credit: velimir/Adobe Stock)
Initial reports underestimated the number of catalytic converters that were stolen in the U.S. during 2022, according to Carfax, which reported the true number is as many as 153,000.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
