As precious metals prices soar, catalytic converters are now valuable targets for thieves who are targeting an obscure component of automotive exhaust systems in thefts that can be accomplished in less than a minute. The component is the catalytic converter, which has been a mandatory part of exhaust systems since 1975. Police across the country say they have seen a dramatic rise in thefts of the components in recent months.
Catalytic converters have only small traces of the metals - platinum, palladium and rhodium - but there's enough in them for a thief to resell stolen units for up to $200 a piece. Rhodium is among the most expensive metals on Earth, commanding as much as $6,000 an ounce on the open market.
Easy to find means easy to steal. The converters are inviting targets because they're easy to grab. Mounted on the exterior undercarriage of vehicles, they can be removed in about a minute or less, with any standard metal cutting tool. An enterprising thief in a crowded parking lot or garage can make off with enough converters to clear $2,000 or $3,000 in half an hour.
The Toyota 4-Runner is the most common target of thieves, according to Los Angeles Police Department’s Burglary Unit, which issued a public warning about what it called a "new disturbing trend." The 4-Runner sits high off the ground, and its converter is attached with four bolts that are easily sawed or cut off, making it simple for thieves to duck underneath the vehicle, steal the converter. The Kia Sportage, with a similar profile, is also popular. They're the easiest to get under and the easiest to remove. But any vehicle made after 1975 is a potential target. This is certainly something that could happen in your driveway.
Since January of this year, the Los Alamitos Police Department has had 24 reported thefts of catalytic converters and the majority of these have been Toyotas. Every neighborhood in the City has been victimized, but locations where vehicles are routinely parked on the street are the most vulnerable.