Vehicle Thefts at Crisis Level in Canada

Vehicle theft rates in Canada have soared to unprecedented levels in 2022, resulting in over $1 billion in losses for insurers.

According to a new report by the Équité Association, this surge underscores the growing interest of organized crime syndicates in Canadian vehicles, perceiving them as a lucrative and low-risk opportunity for both domestic and international markets.

The profitability of illegal trade in stolen vehicles remains high, the report said, while the risk of prosecution for these criminals remains relatively low.