Auto theft is on the rise in Canada. Reports of carjackings, key fob copying under the cover of darkness, and cloned VINs have been dominating media headlines.
In 2022, the number of vehicle thefts reported by police in Canada increased by 24%. The Insurance Bureau of Canada (IBC) recently shared that auto insurance firms paid $1.5 billion in theft claims during 2023. That’s up 254% since 2018. At CARFAX Canada, we’ve seen a similar trend, with a 30% increase in VIN cloning investigations since 2020.
Canadian car buyers are understandably worried. In a recent survey, the majority told us they were concerned about their vehicle being stolen. And it’s not just because they’re hearing about it in the news — 17% of buyers have been a victim of auto theft or know someone whose vehicle has been stolen in the last 12 months.
So, how does this affect your customer’s buying decisions, and what can you do to help?
Provide the history
For used vehicles, the increase in theft has made the car’s history even more important. Buyers will be extra motivated to confirm the vehicle’s stolen status or that the VIN is unaltered. When we asked used car buyers to rank the pieces of vehicle history that are most important to them, determining whether the vehicle had been declared actively stolen came in at number two, just after accident information. Getting these details in front of potential customers early will help them breathe easier through the process.
Highlight vehicle anti-theft protection features
Anti-theft protection was near the bottom of the list when we asked buyers to rank their most important considerations when buying a vehicle. Old standbys like safety and fuel economy are still going to win the day for your customers. But this doesn’t mean anti-theft features aren’t important to your customers, especially if the majority are concerned about theft. OEMs are rolling out new innovations; you’re familiar with them, but the average consumer may not be. Use your expertise to explain how these new features are superior to previous models. This may help some customers make a difficult choice between vehicles with similar specifications and features.
Provide guidance
Finally, offer post-purchase support to make your customer feel reassured as they drive off your lot. While most of your customers are worried about auto theft, many are unsure what to do about it. Just over a third of buyers (36%) are keeping their key fobs away from the front door, and only 26% are using a vehicle tracking device. As a trusted expert, you can educate your customers on preventing theft and recommend products that will help them sleep better at night.
Your customers will likely have auto theft in the back of their minds for the foreseeable future. Focus on the above to give them peace of mind before and after they buy.