LoJack Reports Spike in Bike Theft

LoJack Corporation, a provider of tracking and recovery systems for stolen mobile assets, today announced the results of its first annual Motorcycle Theft Study, which documents facts and trends derived from LoJack’s stolen motorcycle recovery reports for the calendar year 2006.
The report underscores the fact that organized crime rings view bike theft as a highly lucrative business opportunity and that motorcycle theft is growing along with the popularity of bike riding – which today is at an all time high.
Figures released by the National Insurance Crime Bureau earlier this year indicated that more than 70,000 motorcycles were stolen in 2005.
In fact, bike theft has risen 135 percent over the past five years.
And not surprisingly, the LoJack report indicates that theft is especially high in states including Florida, California and Texas, where the riding season is year-round.
“Today’s professional thieves view stealing motorcycles as a theft of opportunity and an easy money-making proposition, which is why bike theft is increasing at such an alarming rate,” said Richard T. Riley, LoJack’s Chairman and CEO.
While all motorcycles are vulnerable to theft, the report indicates that the most popular theft targets are the newer sport bikes.
Four of the top five stolen/recovered bikes are sport bikes and 87 percent were either 2005 or 2006 models.
Below are the top five stolen motorcycle makes:
1. Suzuki
2. Honda
3. Yamaha
4. Kawasaki
5. Harley-Davidson
“Newer bikes are top theft targets for a number of reasons,” said Riley.
“To begin with, they are typically in high demand and parts for new bikes aren’t always readily available.
So, thieves have an opportunity to sell the bikes whole or disassemble them for parts, sometimes even selling parts online. In addition, proud owners of new motorcycles tend to ride their bikes a lot initially to show them to friends and relatives, and they often do not take the necessary theft protection measures. Unfortunately, these shiny, new bikes also catch the attention of thieves who can strike while the bike is vulnerable to theft. For all of these reasons, owners of new bikes need to be particularly vigilant about theft.”
The 2006 LoJack Motorcycle Theft Study is based on state theft statistics and equipment recoveries documented by LoJack in 26 states from January to December 2006.
LoJack has been tracking theft/recovery data for the past year and will continue to issue these reports annually to provide the industry with valuable statistics and trend information.