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July is National Vehicle Theft Prevention Month. Learn about the insurance trends and explore ways to prevent vehicle theft.

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The issue has become so dire that as of February 2021, 18 states have started evaluating if legislative action is necessary to stymie catalytic converter theft, according to NICB. (Credit: Kim2480/WikiCommon) As of February 2021, 18 states were evaluating whether legislative action is necessary to stymie catalytic converter theft, according to the NICB. (Credit: Kim2480/WikiCommon)

Since March 2020, the National Insurance Crime Bureau (NICB) found an average of 1,200 incidents of catalytic converter theft in the U.S. per month. This is a marked uptick from an average of 282 monthly catalytic converter thefts in 2019.

A component of some car exhaust systems, catalytic converters are devices that convert hazardous emissions into less harmful gases. Comprised of precious metals such as platinum, palladium and rhodium, which had a value of $14,500 per ounce in December 2020, recyclers will typically pay from $50 to $250 per catalytic converter, making them targets for thieves.

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Steve Hallo

Steve Hallo is an assistant editor with PC360 Group. Prior to his current position, Steve spent nearly a decade covering retail transformation, consumer trends, manufacturing issues and supply chain challenges impacting global CPG markets. He can be reached at [email protected], and on LinkedIn and Twitter.  

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