Report finds auto theft costs Canadians nearly $1 billion per year
Bad news for Ford owners; according to a recent report, Fords make up eight of the top 10 most commonly stolen vehicles in Canada.
The report, from the Insurance Bureau of Canada (IBC), listed the 2002 to 2007 Ford F350 SD as the most commonly stolen vehicles in the country.
The reason this particular make and model is a common target of car thieves is because of its lack of an ignition immobilizer, which helps prevent would-be car thieves from hot-wiring the vehicle.
The other vehicles on the list were the Ford F250 SD from 2005 and 2006, the Lexus RX350/RX350L/RX450h/RX450hL 4DR from 2018, and the Honda Civic Si 2DR Coupe from 1998.
Many vehicle thefts are committed by organized crime groups that then resell them to unsuspecting consumers, ship them overseas, or strip them for parts.
According to the report, auto theft costs Canadians nearly $1 billion every year. This includes $542 million for insurance companies to fix or replace the stolen vehicles, and $250 million for police, health care, and court system costs.
“Electronic auto theft is on the rise across the country as more vehicles are equipped with technology like keyless entry fobs,” Bryan Gast, National Director of Investigative Services for IBC, said in a news release.
“Regardless of how a vehicle is stolen, auto theft is a serious threat to Public Safety and continues to cost all Canadians,” he continued.
- Anyone caught violating the EMCPA will be fined between $750 and $1,000
- Over 400 new COVID-19 cases found in Ontario, with significant jump recorded in Halton
- Charges laid after non-essential Oakville business found to still be operating
- Canadian military preparing to get involved in COVID-19 pandemic
- Halton police search for missing Oakville teen