From January-April of this year, catalytic converter thefts in the U.S. have increased 33% compared with the same period the year prior, according to BeenVerified. The growth in 2022 follows a staggering rise in these crimes, as 2021 saw a 325% year-on-year increase in catalytic converter thefts.
In addition to continuing to grow, these crimes are becoming popular in new regions. In 2021, California, Texas and Washington State saw the most thefts. So far this year, Indiana, Georgia and Rhode Island have become catalytic convert-theft hot spots, according to BeenVerified.
Helping to propel this dramatic rise is the growing price for the precious metals converters are made of. For example, rhodium currently sells for around $15,000 per ounce, while palladium runs about $2,306 per ounce. Although spot prices are quite high, thieves can only typically sell a catalytic converter for $25-$300 if it comes of a traditional vehicle. Catalytic converters from hybrid cars can fetch as much as $1,400.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
