Catalytic Converter Thefts On The Rise
An SUV’s catalytic converter is being removed at a salvage yard. Catalytic converters reduce pollutants by oxidizing carbon monoxide and hydrocarbons. Converters contain platinum or palladium which are recovered and recycled during the salvage process.
The American Automobile Association says catalytic converter thefts claims are up more than 1,000% since 2019.
AAA says new insurance data indicate two of the three rare earth metals used in catalytic converters, rhodium and palladium, are worth more per ounce than gold.
Prime targets for catalytic converter thieves are SUVs and fleet vehicles. Toyota Priuses are also targeted since those vehicles have two catalytic converters and have more of the precious metals.
Get tips on how to prevent catalytic converter theft here.
