JOURNAL ARTICLE

Range Rovers Become Thief-Magnets, Causing Prices to Tumble.

  • Published In: Bloomberg.com, 2023. P. 1 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Nimmo, Jamie 3 of 3

Abstract

The theft of Range Rovers in the UK has caused insurance premiums to skyrocket, leading to a significant drop in resale value for these vehicles. The average price of a used Range Rover has fallen 9.3% since May, compared to declines of 5.7% for all luxury SUVs and 2.8% for all cars. Jaguar Land Rover is considering offering a bespoke insurance product for UK customers struggling to find affordable coverage. Range Rovers have become a popular target for thieves due to their value and keyless technology, with six of the top 10 most-stolen car models in the UK being Range Rovers. JLR has implemented security updates to prevent thefts and is working closely with the police to identify the tools and techniques used by criminals. Despite the crime wave, demand for Range Rovers remains high, with the company's order book standing at 168,000 vehicles. However, some owners have opted to switch to other brands due to the risk of theft. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/12, p1
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2023
  • Accession Number:174215711
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