Thefts of catalytic converters appear on the decline.
According to a new report from large insurance carrier State Farm, the number of claims for catalytic converter thefts in the first half of 2023 was 14,500. That was down from the 23,000 in the first six months of 2022.
Claims cost an average of $2,900. California had more than one-third of the reported thefts, with more than 5,400. Texas had 1,450 claims.
CARFAX also looked into catalytic converter thefts. It pointed out new laws in Washington, California and Minnesota are working to crack down on the number of thefts, with increased penalties or requiring the vehicle identification number to be marked on the catalytic converters. A federal law has also been proposed in the U.S. Senate.
CARFAX found the Ford F-150 to be the most targeted vehicle for catalytic converter thefts followed by the Ford Explorer, Honda Accord and Toyota Prius.
Catalytic converters are targeted for the platinum, palladium and rhodium contained in them.
“Thieves can make anywhere from $25 to $300 for a standard catalytic converter, experts say. Ones from hybrid vehicles can sell for up to $1,400,” CARFAX reported.
