Guy Explained How Thieves Steal Catalytic Converters From Cars For Huge Profit
Shortage of precious metals has led to a spike in the theft of a very common car component. Crazy, right? But that's where humanity is at after a devastating pandemic. In a Twitter thread, journalist Zachary Crockett explained how and why this is happening.
Called a "catalytic converter," the part in question may be found between your car's engine and exhaust. The converter performs a very important function - of turning toxic gases like carbon monoxide and nitrogen oxide in less harmful substances.
According to Crockett, the reported thefts of catalytic converters have shot up considerably. For perspective, a garage or repair shop in the United States used to report about two to three thefts each month. Now, the number has gone up to six to eight.
Why are thieves stealing car parts?
Simply put, the catalytic converters have trace amounts of three precious metals - palladium platinum, and rhodium. The ongoing Covid-19 pandemic has considerably affected the supply of virtually every metal, causing their costs to spike. Most of us hadn't heard about the shortage of gadgets and chips until the Covid pandemic shed light on delicate supply chains. Yep, try getting your hands on a Playstation 5 or an Xbox One Series X a year after their release! That's how far out this goes and those things aren't even built from precious metals.
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Last year's wave of coronavirus threw the world into a frenzy. Things have eased since then, all thanks to life-saving vaccines. Even then, most mine shutdowns in Africa have added to the rarity of these already depleted metals. Wherever there is a shortage, there is an opportunity for exploitation and that's exactly what a few thieves have done in the face of growing demands.
Great returns... just not for car owners
Crockett explained how a catalytic converter may be stolen off your vehicle in less than 30 seconds using a saw. These parts sell for anything between $25 and $1,000 (that's about ?74,000) depending on the concentration of precious metals. Depending on your car model and configuration, you may be on the radar of a thief.
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The precious metals are mostly sold off to illegal smelters who then sell it to manufacturers. This is very cumbersome for car owners who have shell out twice its cost to get a new catalytic converter, with long waiting times owing to the ongoing Covid-19 pandemic.
What are you going to do to keep your catalytic converter safe in such trying times? Let us know in the comments below. For more trending content in the world of tech and science, continue reading Indiatimes.com.??
