Catalytic converter thefts rise steeply, NICB reports
Catalytic converters are comprised of precious metals such as palladium and rhodium, which leads to replacement costs as high as $3,000.
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.
Scrap metal plants pay $250 at the most for a used converter. But the cost to replace one can run from $1,000 to $3,000, according to the NICB.
“Vehicle thefts, carjackings, and break-ins are all crimes we’ve witnessed trending upward for several months, and now catalytic converter thefts are also on the rise,” David Glawe, NICB president and CEO, said in a press release. “We have seen a significant increase during the pandemic. It’s an opportunistic crime. As the value of the precious metals contained within the catalytic converters continues to increase, so do the number of thefts of these devices. There is a clear connection between times of crisis, limited resources, and disruption of the supply chain that drives investors towards these precious metals.”
For some motorists with optional comprehensive coverage, which protects against damaged not caused by accidents, these incidents would be covered, NICB reported.
Rate of thefts grew continually through 2020
NICB reported the rate of catalytic converter thefts continually rose throughout the past year. January 2020 saw the fewest thefts at 652. By December 2020, the number jumped 2,347 catalytic converter thefts.
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 the bureau. Proposed legislation includes only letting licensed scrap dealers purchase catalytic converters, and they must buy from an auto repair shop, recycling business or individual who can provide ownership proof.
States with the highest rates of catalytic converter theft during the review period were California, Illinois, Minnesota, Texas and North Carolina, the bureau reported.
“Removing a catalytic converter takes only minutes using some basic, readily-available, battery-operated tools from a local hardware store,” Glawe said. “And for the vehicle owner, it’s costly due to the loss of work, finding and paying for alternate transportation and then paying anywhere from $1,000 to $3,000 to get your vehicle fixed.”
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