BeenVerified estimates there were more than 26,000 catalytic converter thefts reported in the U.S. the first six months of 2023. That's down 43% compared to the same time last year. However, catalytic converter thefts are still 21% higher than four years ago. These thefts are so common because the component is mounted beneath the vehicle, making it easily accessible to thieves. With the proper tools, thieves can remove a catalytic converter in less than two minutes and profit handsomely by reselling it. For the vehicle's owner, replacing a stolen catalytic converter is a big hassle and potentially costs thousands of dollars.
Why are they stolen?
Catalytic converters are stolen for two reasons: money and ease of stealing. They are made with the precious metals platinum, palladium and rhodium, which skyrocketed in value due to supply chain issues during the COVD-19 pandemic. The average catalytic converter contains about 1-2 grams of rhodium, about 3-7 grams of platinum, and between 2 and 7 grams of palladium. While the market value of these metals has decreased, they still can fetch a pretty penny. Rhodium is averaging $135 a gram and palladium is selling for about $38 a gram.
Catalytic converters and their scraps can currently sell for between $800 and $1,200, depending on the type and the market at any given time. The National Insurance Crime Bureau (NICB) says auto parts recyclers will typically pay between $50 and $250 for a catalytic converter. However, some are more valuable than others. For example, the Insurance Institute for Highway Safety reported that in 2021 the most valuable converters were selling for more than $1,000. Stolen catalytic converters are not usually offered for sale as-is, but they can be sold on the black market or to scrap yards that will buy them and sell them to companies specializing in scrap metals.
Couple that with how little effort it takes to remove a catalytic converter from a vehicle — in some cases as fast as 30 seconds — and you can understand why they are a hot item.
How are they stolen?
Catalytic converters are usually cut out of the exhaust system using a reciprocating saw or other cutting tool. The catalytic converter is located underneath the car between the engine and muffler. It catalyzes the toxic byproducts of fuel combustion into the less poisonous gases that exit through your car's tailpipe in the form of exhaust. Catalytic converters use precious metals to convert the hydrocarbons, carbon monoxide and nitrogen oxides produced within an internal combustion engine into less harmful carbon dioxide and water. Because they require high temperatures to operate correctly, catalytic converters are often located close to the engine. That's why if thieves have removed your car's catalytic converter, you'll hear noise that sounds like it is coming from underneath the front seats. It also means the engine's exhaust is no longer flowing through the muffler or tailpipe.
Where are they stolen?
California is currently the top state for catalytic converter thefts with close to 7,000 stolen in 2023 so far. Texas, Illinois, New Jersey and New York have had a combined 7,060 thefts to round out the top five. However, no metropolitan area is immune from these thefts. The concentration of vehicles, lax or limited security, and ease of reselling stolen converters contribute to the problem.
States are trying to help curb the issue, though. According to the National Insurance Crime Bureau, 39 states have introduced 96 bills of new legislation or ones that strengthen existing laws this year.
In California, bills SB 1087 and AB 1740 require recycling companies to keep records of all catalytic converters and only allow their purchase from registered and approved dealers. Additionally, states are trying to increase documentation requirements for buyers and sellers of catalytic converters and stiffen civil or criminal penalties for buyers and sellers of stolen catalytic converters.