LoJack's Annual Theft Report Released
LoJack Corporation released it's annual Construction Equipment Theft and Recovery in the United States study. The report shows industry trends specific to construction equipment and machinery equipped with the company's Stolen Vehicle Recovery System.
The 2014 study showed:
- More than $7,735,458 worth of construction equipment assets were stolen and recovered.
- Replacement cost would have been more than $13.1 million.
- Backhoe loaders and skid steers are the most common pieces of equipment stolen and recovered (60 percent of all LoJack System-equipped construction equipment recoveries.)
- New equipment models are popular targets; 54 percent of equipment stolen in 2014 was less than five years old.
- Theft remains relatively consistent throughout the year, with an uptick in activity from November through March, when more equipment is idle due to lower construction activity during colder months.
“Construction equipment remains a key target for practiced thieves as it remains difficult to secure and high in value,” said Courtney DeMilio, National Vice President of Commercial and Fleet. “Replacing stolen construction equipment comes at a significant cost that goes beyond the simple dollar value of the equipment. Oftentimes, theft has a much greater, negative impact on a business – loss in job productivity, the inability to complete a job, a diminished professional reputation – all while the owner is spending a substantial amount of time and money to replace the equipment. As criminals continue to target high-value construction equipment, protecting these tools is something that, unfortunately, must remain a high priority for all construction equipment owners.”
You can find their complete news release and an inforgraphic here.
States with the highest occurrence of equipment theft:
1. California
2. Texas
3. Florida
4. Georgia
5. Oklahoma
6. (Tie) Arizona, Colorado
7. Maryland
8. New York
9. North Carolina
10. (Tie) Washington, Louisiana, Nevada, Pennsylvania, Michigan
Most popular types of stolen and recovered:
1. Backhoe Loaders / Skip Loaders / Wheel Loaders: 35%
2. Skid Steers: 25%
3. Towables (Air Compressors, Generators, Welders, Light Towers): 20%
4. Excavators/Mini Excavators: 9%
5. Other: 7%
6. Forklifts: 4%
Top five equipment brands most stolen and recovered in 2014:
1. Bobcat: 24%
2. John Deere: 20%
3. Caterpillar: 8%
4. Case: 8%
5. Takeuchi: 6%
The LoJack System can be installed at the original equipment manufacturer or end user levels and helps combat equipment theft across 29 states in the U.S. and in parts of Ontario and Quebec. Since 2000, more than $156,850,535* worth of stolen assets and equipment has been recovered due to the LoJack System. For additional details, visit LoJack’s Commercial Theft Blog.
About the “2014 LoJack Corporation Study on Construction Equipment Theft”
From January through December 2014, LoJack tracked theft reports in states where equipment theft was reported and where construction equipment outfitted with LoJack System led police to recover the stolen assets.
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