Catalytic Converter Theft Surges as Precious Metal Prices Rise

Thieves target hybrid vehicles and trucks with easy-to-access catalytic converters

Published on Mar. 8, 2026

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After a brief decline, catalytic converter thefts are on the rise again as the prices of precious metals like rhodium, platinum, and palladium used in the car parts have skyrocketed. Hybrid vehicles like the Toyota Prius and trucks with higher clearance remain popular targets for thieves due to the high value and accessibility of the catalytic converters.

Why it matters

Catalytic converter theft is a persistent problem that costs vehicle owners and insurance companies millions of dollars each year. The recent spike in precious metal prices has made these thefts more lucrative for criminals, leading to a resurgence in incidents across the country and highlighting the need for preventative measures.

The details

In 2023, State Farm reported a decline in catalytic converter theft claims, down to around 7,600 from a peak of 45,000 in 2022. However, the price of rhodium, a key metal used in catalytic converters, has skyrocketed to over $12,000 per ounce, making the thefts more attractive to criminals. Hybrid vehicles like the Toyota Prius and trucks with higher clearance remain popular targets due to the high value and accessibility of the catalytic converters.

  • In 2023, State Farm said claims for catalytic converter theft had fallen from their peak in 2022.
  • At the end of February 2026, the price of rhodium reached over $12,000 per ounce.

The players

State Farm

A major insurance company that tracks claims related to catalytic converter theft.

NICB

The National Insurance Crime Bureau, whose president and CEO David Glawe previously commented on the rise in catalytic converter thefts.

Toyota Prius

A popular hybrid vehicle that was a top target for catalytic converter thieves due to the high value and accessibility of the car part.

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What they’re saying

“As the value of the precious metals contained within the catalytic converters continues to increase, so do the number of thefts of these devices.”

— David Glawe, President and CEO of the NICB (Nexstar)

What’s next

Concerned vehicle owners can install catalytic converter shields to make the parts harder to steal, and park in well-lit, secure areas to deter thieves.

The takeaway

The resurgence in catalytic converter theft highlights the need for continued vigilance and preventative measures, as criminals seek to capitalize on the high prices of precious metals used in these car parts. Vehicle owners must remain proactive in protecting their property from this persistent and costly crime.