New Car Technology Will Lead to More Car Thefts
All types of vehicles today have reached a high level of overall average quality with a wide range of innovative safety and technology features that keep drivers and passengers safer than ever and are exceeding consumers' highest expectations. All of us here at Service King North Dallas in Dallas, TX agree that today's cars, SUVs and trucks are better than ever, but the National Insurance Crime Bureau (NICB) finds that all of these cutting-edge components come with a rising price tag and will lead to expensive repair bills. In addition, experts have reported that there will be more vehicle thefts to support a flourishing black market for auto parts.
The NICB looked at the cost of replacement parts for the top 10 stolen 2017 models on the market currently, with standard OEM part prices selected from a database of more than 24 million vehicle damage appraisals that were generated for 2016 and 2017 insurance claims. This list did not include items such as major components like engines or transmissions; concentrating on easily-stripped components that include bumpers, doors, hoods, fenders and headlights.
The NICB discovered that the 2016 Toyota Camry, which had a used market value of roughly $15,000, contains 15 commonly replaced parts that equal almost $11,000, without including labor. The vehicle's quarter panels alone cost nearly $1,600 per pair and a full set of alloy wheels cost more than $1,600. As a result, the Camry was one of the top stolen vehicles in the United States 2016 at a total of 1,113 thefts.
Right behind the Camry is the 2016 Nissan Altima, with approximately 14 standard parts worth more than $14,000, including a single headlamp assembly that costs more than $1,000, which makes it the second-top stolen vehicle in 2016 at a grand total of 1,063 vehicles stolen.
Looking at the NICB's list more carefully, we saw that the 2016 GMC Sierra pickup (No. 7 on the 2017 top-stolen list), came in at a steep $21,000 price derived from 20 standard components, including a $1,100 headlamp assembly and a rear bumper that costs $1,100.
For a professional theft ring, hijacking, stealing and stripping vehicles for parts has always been a lucrative business and with newer cars it might be even more profitable. With today's cars, SUVs and trucks, the parts are worth more than the entire vehicle intact, as well as easier to move and sell on the black market. This means that car owners need to be more careful and security focused in order to prevent car thieves from making a lot of money at their expense.
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Sources: NICB and CNN
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