Protect Your Vehicle: Preventing Catalytic Converter Thefts in High-Rhodium Price Era
Catalytic converter thefts are on the rise again, with recent incidents reported in Berkeley, California, St. Paul, Minnesota, and Nashville suburbs. While State Farm saw a decrease in theft claims in 2023 compared to 2022, the current high prices of precious metals like rhodium, platinum, and palladium found in catalytic converters are driving the resurgence of this crime. The price of rhodium has soared to over $12,000 per ounce, making these car parts more attractive to thieves.
Toyota Priuses were previously the primary target due to their high-value converters, but hybrids, pickups, and some mid-size sedans are still at risk. Installing a shield on the catalytic converter can make it harder to steal, and parking in secure, well-lit areas or garages can deter thieves. It's essential for vehicle owners to take precautions to prevent catalytic converter theft and safeguard their vehicles from this costly crime.