Earlier this month Équité Association shared our annual Top 10 Most Stolen Vehicles list for 2024, which revealed that auto theft losses exceeded $1 billion in annual claims. This is a clear indication that organized criminal networks are not slowing down but are simply shifting their tactics. At Équité, our investigators are seeing a shift towards stolen vehicles being re-VINed for sale or disassembled in illegal chop shops and sold for parts. As the cost to buy and maintain vehicles rises, we expect to see this trend grow.

Our Top 10 Most Stolen Vehicles campaign is one of the most important campaigns we do all year because it directly connects the impacts of insurance crime with everyday Canadians. Everyone knows someone who has a car on our lists, whether it’s a family member, friend or colleague, this is an important moment to create awareness.  

A survey we conducted in 2023 revealed 68% of Canadians were concerned they might be a victim of auto theft. Insurance crime, including auto theft, often puts a hidden emotional and financial burden on Canadians. They are victimized initially through the theft or fraud, and then again as an entire community when criminals use the money from their crimes to fund guns and drugs.

In Canada, we have experienced an unprecedented rise in auto theft in recent years, and on behalf of the industry, and I am so proud what Équité has accomplished to raise awareness and build sustainable solutions with government, regulators, law enforcement, and industry stakeholders.

While the overall 19% decrease nationwide means that our work is having a significant positive impact, auto theft continues to cost Canadians over $1 billion in losses each year.

The reality is that most modern vehicles lack digital security systems. Newer model SUVs, particularly those with keyless security vulnerabilities, remain prime targets for sophisticated criminal networks nationally, especially in Quebec and Ontario. 2024’s most stolen vehicle, the Toyota RAV4, was stolen more than 2,000 times across the country, reflecting its high demand, global serviceability, and high resale value which maximizes criminal profits from illegal domestic and international sales.

Today’s vehicles are computers on wheels and criminals are exploiting those security weaknesses to gain access to the vehicle in under 30 seconds. Strengthening cybersecurity across the entire ecosystem – from vehicle design to fraud detection – is critical to closing these gaps and protecting consumers from technology-driven theft.

The next essential step in prevention is for Transport Canada to mandate the newly proposed harmonized ULC 338 (Vehicle Theft Deterrent Equipment and Systems) standard. Adopting this unified, modern standard will deter thieves, provide clarity for manufacturers and installers, and protect consumers. The standard was published earlier this year, and Équité was proud to have represented its Canadian property and casualty (P&C) insurance industry members on the advisory committee responsible for collaboratively shaping the standard.

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