CalAmp Reaches Global Milestone with Over $1.5 Billion Worth of Stolen Vehicle Recoveries to Date

Rhea-AI Summary

CalAmp (Nasdaq: CAMP) has announced that its stolen vehicle recovery (SVR) solutions have successfully recovered over $1.5 billion worth of vehicles globally, marking a significant milestone in the company's 40th anniversary year. This includes £563 million by Tracker in the UK, €290 million by LoJack Italia, and over $8 billion (MXN) by LoJack Mexico. Keyless car theft remains a major concern, with sophisticated methods being used worldwide. CEO Jeff Gardner emphasized the importance of their connected car solutions in enhancing security and preventing losses.

Positive

• Achieved over $1.5 billion in vehicle recoveries, showcasing the effectiveness of SVR solutions.
• Celebrating 40 years in business, indicating strong operational longevity.
• Expansion of services to include LoJack España and support for electric vehicles.

Negative

• Keyless car thefts are increasingly sophisticated, indicating ongoing security challenges.

IRVINE, Calif., Aug. 12, 2021 /PRNewswire/ -- CalAmp (Nasdaq: CAMP), a connected intelligence company helping businesses and people track, monitor and recover vital assets with real-time visibility and insights, reports its stolen vehicle recovery (SVR) solutions have successfully recovered over $1.5 billion worth of vehicles internationally from inception to date. The total includes £563 million by Tracker in the United Kingdom, €290 million by LoJack Italia and over $8 billion (MXN) by LoJack Mexico.  This marks an important global milestone in CalAmp's history as it celebrates its 40^th anniversary this year.

CalAmp's proven SVR solutions have used radio frequency, cellular and GPS tracking technology and direct integration and communication with local law enforcement to help consumers, automotive dealers, car rental agencies and insurers worldwide to recover their stolen vehicles. CalAmp operates LoJack's international footprint, including Tracker in the United Kingdom, LoJack Italia, LoJack Mexico and recently launched LoJack España. There are also LoJack licensees worldwide in Belgium, The Netherlands, South Africa, Argentina, Chile, Peru, and Ecuador, among other countries.

In addition to cumulative figures from inception to date, CalAmp's international entities offer insightful 2020 data on vehicle theft risks, methods and recoveries in their respective regions:

• Tracker: In 2020, Tracker successfully recovered over £9 million worth of vehicles in the United Kingdom. The top three most stolen and recovered vehicles were Range Rover models—the Sport, Vogue and Autobiography. Notably, Range Rover and Land Rover vehicles accounted for 37% of all stolen vehicles recovered by Tracker in 2020. Further analysis showed that 93% of all recovered vehicles were stolen as a result of keyless car theft including relay attacks, where thieves hijack the car key's signal, remotely unlock the doors and start the engine.
• LoJack Italia: In Italy, LoJack Italia recovered €38.4 million worth of vehicles last year. The most stolen vehicle was the Fiat Panda, followed by the Fiat 500X and Toyota RAV4. The theft of sport utility vehicles was 41% of the total vehicles stolen in the second half of 2020 in Italy. The most common theft method was keyless car theft accounting for 28% of thefts in Italy in 2020—up 3% from 2019.
• LoJack Mexico: In 2020, LoJack Mexico recovered nearly $523 million (MXN) worth of vehicles. The most stolen vehicle was the Volkswagen Vento, followed by the Volkswagen Jetta and Seat Ibiza. While keyless car theft including relay attacks, cloned keys and key jammers were all methods used, 82% of thefts in Mexico were achieved through threats of violence.

"Even as thieves worldwide look to more sophisticated means of vehicle theft, our global customers can find peace of mind knowing that our connected car solutions are equipped to help them protect their investments and prevent potential losses. We're proud to be making a difference and creating safer communities in every country across our international footprint," said Jeff Gardner, CEO of CalAmp. "We have continued to expand our connected car capabilities to provide automotive OEMs, corporate fleets, car rental agencies and drivers even greater visibility, intelligence and support for their vehicles on the road."

CalAmp's connected car solutions include the LoJack Connect consumer mobile app that offers vehicle location, road-side assistance, CrashBoxx® crash response services, accident reconstruction, and departure and arrival notifications. The SmartDealer inventory management system provides dealers with real-time intelligence into their vehicle inventory, including operational health, location and alerts when vehicles enter or exit defined areas. CalAmp has also recently expanded into electric vehicle (EV) support to provide data on EV performance, driver behavior and battery life.

For more information about CalAmp's full range of connected car solutions, please visit: www.calamp.com/solutions/connected-cars.

About CalAmp
CalAmp (Nasdaq: CAMP) is a connected intelligence company that helps people and businesses work smarter. We partner with transportation and logistics, industrial equipment, government and automotive industries to deliver insights that enable businesses to make the right decisions. Our applications, platforms and smart devices allow them to track, monitor and recover their vital assets with real-time visibility that reduces costs, maximizes productivity and improves safety. Headquartered in Irvine, California, CalAmp has been publicly traded since 1983. We have 22 million products installed and over 1.3 million software and services subscribers worldwide. For more information, visit calamp.com, or LinkedIn, Facebook, Twitter, YouTube or CalAmp Blog.

CalAmp, LoJack, TRACKER, Here Comes The Bus, Bus Guardian, iOn Vision, CrashBoxx and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Spireon acquired the LoJack® U.S. Stolen Vehicle Recovery (SVR) business from CalAmp and holds an exclusive license to the LoJack mark in the United States and Canada. Any other trademarks or trade names mentioned are the property of their respective owners.

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SOURCE CalAmp

FAQ

What is the total value of stolen vehicles recovered by CalAmp as of August 2021?

CalAmp has recovered over $1.5 billion worth of stolen vehicles globally.

What is the significance of CalAmp's 40th anniversary?

CalAmp's 40th anniversary marks a milestone in its operational history and commitment to providing connected intelligence solutions.

Which regions contributed significantly to CalAmp's vehicle recovery figures?

The UK, Italy, and Mexico significantly contributed, with £563 million, €290 million, and over $8 billion (MXN) respectively.

How does CalAmp combat keyless car theft?

CalAmp employs advanced SVR solutions that integrate radio frequency, cellular, and GPS tracking technology.