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.

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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.

In the past few years, reported thefts of catalytic converters have gone bonkers.

Auto repair shops that used to see 2-3 of these thefts every month are now seeing as many as 6-8 per DAY.

One crime ring in LA alone was busted with $750k+ worth of these things. pic.twitter.com/KMplnv5Ikx

¡ª Zachary Crockett (@zzcrockett) November 15, 2021

Also read: Indian Scientists Discover Bacteria That Eats Toxic Metals From Water, Making It Safe

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.

Why are people stealing catalytic converters?

They contain trace amounts of 3 precious metals: platinum, palladium, and rhodium.

During the pandemic, these metals have shot up to the moon. 3 yrs ago, Rhodium was ~$2k/oz.; in 2021, it hit ~$30k/oz. That's 15x more than gold! pic.twitter.com/w8hLxKYZTA

¡ª Zachary Crockett (@zzcrockett) November 15, 2021

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.

Also read: Researchers Invent Tech To Better Remove Harmful Metals From Water Even Faster

A skilled thief can use a saw to steal your catalytic converter in just 30 seconds.

These parts can fetch between $25 and $1k+. Some models, like those found on Priuses and Ford F-250s, contain more metals and sell for far more. pic.twitter.com/m3n656bnql

¡ª Zachary Crockett (@zzcrockett) November 15, 2021

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.