In 2006, 1,192,809 motor vehicles were reported stolen which is 42,417 fewer than in 2005. Using the FBI's average valuation of $6,649 per stolen vehicle, this amounts to over $7.9 billion in losses in 2006 -- just in vehicle value alone. "The decrease in vehicle thefts is certainly welcome news to law enforcement, the insurance industry, and vehicle owners nationwide," said Robert M. Bryant, the National Insurance Crime Bureau's president and CEO.