Auto Theft Recoveries Soar During COVID-19 Lockdown

Rhea-AI Summary

LoJack, a brand of CalAmp (Nasdaq: CAMP), reported a significant 15% increase in auto theft recoveries in April 2020 compared to the same month in 2019. May 2020 continued this upward trend, showing an 11% increase over the previous year. Key states such as California, Colorado, and Washington State saw recovery increases of 35%, 20%, and 25%, respectively. The company emphasizes the need for vehicle protection during the pandemic and offers innovative solutions like the LoJack Stolen Vehicle Recovery System, which boasts a recovery rate exceeding 90% and has helped recover over $1 billion worth of vehicles in the U.S.

Positive

• 15% increase in auto theft recoveries in April 2020 vs April 2019.
• 11% increase in recoveries in May 2020 compared to May 2019.
• California saw a 35% rise in recoveries, Colorado 20%, and Washington 25%.
• LoJack system has over a 90% recovery rate for stolen vehicles.
• Over $1 billion in LoJack-equipped vehicles recovered in the U.S.

Negative

• None.

IRVINE, Calif., July 1, 2020 /PRNewswire/ -- LoJack^®, a brand of CalAmp (Nasdaq: CAMP) and a leader in stolen vehicle recovery (SVR) and innovative automotive services, today announced auto theft recoveries in the U.S. jumped 15 percent in April 2020 over April 2019 and continued to grow in May, outpacing last year's number at this time by 11 percent. The report indicates an increase in auto theft recoveries, and highlights changes from the same period last year to date, demonstrating that while auto theft is on the rise during the COVID-19 lockdown, consumers must stay vigilant and protect their vehicles.

While essential workers travel to and from work and others have sheltered in place, auto thieves continue to operate during a global pandemic according to LoJack's U.S. Recoveries Trends report. The report found that the U.S. -- during the rising spread of COVID-19 -- saw a big increase in stolen vehicle recovery across the country in April 2020 compared with April 2019. In May, the following states saw a significant increase in auto theft recoveries:

• California increased 35 percent
• Colorado increased 20 percent
• Washington State increased 25 percent

With the Fourth of July holiday approaching, LoJack and CalAmp urge drivers to take these simple precautions:

• Try to park your car in well-lit areas or within range of security cameras
• Don't leave valuables in plain sight in your vehicle
• Double check to make sure your vehicle is locked
• Don't leave windows or sunroofs cracked and don't leave your car running unattended
• Be mindful of where you leave your keys or key fob; don't leave a spare key in the vehicle

"It's clear that auto thieves have been hard at work during the pandemic," said Justin Schmid, senior vice president, general manager of LoJack Global. "The cost of losing a vehicle to theft during a time like this where many people have lost their jobs and income builds on already elevated stress levels and an experience that no one wants to face. It's important to LoJack and CalAmp that we share the facts and equip Americans with solutions that protect their families and bring peace of mind during an already chaotic time."

Stories across the U.S., including a nurse in Boston who had her car stolen in April from her driveway while between shifts at the local hospital, remind us that no one is immune. With COVID-19 continuing to impact communities, auto theft should be the least of one's worries, including frontline workers. Between their telematics-based connected car app SureDrive™ and the traditional LoJack^® System technology, LoJack offers a variety of solutions to protect vehicles and provide additional support for drivers, with features including:

• Stolen Vehicle Location Assist: Provides trained U.S.-based agents to coordinate directly with law enforcement to help track and locate a stolen vehicle.
• CrashBoxx^{84%A2" rel="nofollow">™}: Sends instant crash alerts to loved ones with trained U.S.-based agents available to help provide timely assistance and facilitate emergency response
• Tripwire^™ Early Warning: Enables proactive monitoring and alerts consumers of unexpected car movement, such as when towed or stolen.
• Virtual Boundaries: Allows consumers to set easily configurable boundaries that send notifications when loved ones arrive at their destination.
• Destination Search: Displays integrated and searchable landmarks such as emergency rooms, gas stations, car washes, or other key destinations.
• Where's My Car: Delivers real-time location of your vehicle, whether driving or parked.
• Speed Alerts: Enables parents to set a speed threshold and receive alerts if a teen driver or other loved one goes faster than they should

The LoJack Stolen Vehicle Recovery System consistently delivers a 90% plus recovery rate on cars, trucks, and SUVs, and over $1 billion worth of LoJack-equipped vehicles have been recovered in the U.S. alone^*.

"We are committed to supporting families with innovative solutions that protect their vehicles and loved ones, consistent with the proven LoJack brand promise of safety and security for the road ahead," said Schmid.

*LoJack^® unit activation is contingent upon the vehicle being located within LoJack's SVRU coverage area that spans counties across 29 states throughout the U.S. and the District of Columbia. You may find LoJack's coverage areas at www.lojack.com/coverage or by calling 1-800-4-LoJack. Used car values are best estimates derived from NADA Guide web services values and clean retail value from NADAGuides.com for the make, model and year of the vehicle in the month it was recovered.

About LoJack and CalAmp
LoJack is a brand of CalAmp (Nasdaq: CAMP) and a leader in stolen vehicle recovery and innovative automotive services. CalAmp is a global technology solutions pioneer transforming the mobile connected economy. We help reinvent business and improve lives around the globe with technology solutions that streamline complex mobile IoT deployments and bring intelligence to the edge. Our software and subscription-based services, scalable cloud platform and intelligent devices collect and assess business-critical data from mobile assets and their contents. We call this The New How, facilitating efficient decision making, optimizing mobile asset utilization, and improving road safety. Headquartered in Irvine, California, CalAmp has been publicly traded since 1983 and has 20 million products installed and over 1.3 million software and services subscribers worldwide. LoJack^®, Tracker^{84%A2" rel="nofollow">™}, and Here Comes The Bus^® are CalAmp brands. For more information, visit calamp.com, or LinkedIn, Facebook, Twitter, YouTube, or CalAmp Blog.

CalAmp, LoJack, TRACKER, Here Comes The Bus and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

 

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SOURCE CalAmp

FAQ

What was the increase in auto theft recoveries for CalAmp (CAMP) in April 2020?

CalAmp's LoJack reported a 15% increase in auto theft recoveries in April 2020 compared to April 2019.

How did auto theft recoveries change in May 2020 for CalAmp?

In May 2020, auto theft recoveries continued to grow, showing an 11% increase compared to May 2019.

What states saw the highest increase in stolen vehicle recoveries for LoJack?

California had a 35% increase, Colorado 20%, and Washington State saw a 25% increase in recoveries.

What is LoJack's recovery rate for stolen vehicles?

LoJack maintains a recovery rate of over 90% for stolen vehicles.

How much value has LoJack helped recover in stolen vehicles in the U.S.?

LoJack has helped recover over $1 billion worth of vehicles in the U.S.