Money Matters - Simplified

Report: Cadillac Escalade is the most-stolen car in the US

General Motors luxury sport-utility vehicle (SUV), Cadillac Escalade

General Motors’ luxury sport-utility vehicle (SUV), Cadillac Escalade has topped the list of the most stolen cars in the US, according to a report submitted by Highway Loss Data Institute.

The expensive vehicle not only was the most theft-prone auto, but its average loss per vehicle stolen, was also recorded as the highest, at $11,934, with the institute saying that one out of every four loss claims for the SUV amounted to more than $40,000.

The report also claimed that Chevrolet Corvette Z06 and Ford F-250 crew cab pickup with four-wheel drive were the other ‘most stolen vehicles’ in the United States.

Among the cars that had the least chances of being stolen were Volvo's S80 sedan, Saturn Vue, Nissan Murano and Honda Pilot.

Kim Hazelbaker, the senior vice-president at the Highway Loss Data Institute reveals, “Sedate family cars and fuel sippers aren't on the hot list. Thieves are after chrome, horsepower and Hemis.”

Study details
For preparing the annual report, the Institute examined the data of theft collected for the last three years. The cars were ranked in order of the average theft claim paid out per 1,000 vehicles insured. The average is derived by the vehicle's burglary rate and the average amount paid in insurance claims for each reported car theft.

The car may top the charts but the report claims that the overall stealing of the SUVs has dropped considerably. But in contrast, the pickup vehicles like the Ford F-250 and Chevrolet Avalanche reported to have recorded a peak in thefts.

The figures of the present report were based on the theft claims that are paid by 80 per cent of the auto-insurers of the United States.

GM officials making Escalade theft-resistant
Engineers at the General Motors are currently busy in making the car more secure and less resistant to being stolen. The latest engine immobilizer and steering-wheel lock with a computer chip has been installed in the vehicle to make it theft-resistance.

Also laminated glass window has been installed in the latest models of the car, to make it difficult for the thieves to smash the window of the SUV.

GM spokesman Nick Twork reveals that there is not much that the auto manufacturers can do to stop the thieves as some of them use extreme methods, like tow-vehicles to steal the expensive autos.

Talking about the Escalade, he says, “It's a very desirable vehicle at the end of the day.”

The National Insurance Crime Bureau reveals that California, Texas and Florida were the most theft-prone regions, while Vermont, Wyoming and South Dakota had the least number of car thefts.