Within the luxurious automobile market, Vary Rovers have a fame downside—specifically, that they’re too simple to steal. That picture not solely deters potential patrons, but additionally results in increased insurance coverage prices and decrease resale worth.
Jaguar Land Rover (JLR) CEO Adrian Mardell, talking to buyers on Friday, mentioned the U.Ok. authorities ought to do extra to clamp down on organized automobile theft, and argued Vary Rovers don’t deserve their unlucky fame.
Mardell mentioned his firm is “partly funding” police operations at ports the place prison gangs export stolen autos.
“The containers are not being checked and [stolen cars] get out of the country,” he mentioned. “If we could stop it there, then the ability for these gangs to do this will be restricted.”
He referred to as for a “national conversation” within the U.Ok. concerning the crime and methods to cease it. He additionally mentioned he would like if the federal government delayed anticipated tax cuts amid a cost-of-living disaster and as an alternative put extra funds towards police operations at ports
“This is important to so many people, it goes to the fabric of the society we’re in,” he mentioned.
‘Relay attack’ as the important thing to Vary Rover theft
Vary Rovers, with a beginning value of about $130,000, have grow to be widespread amongst thieves lately, partly as a result of they’re so fascinating. The criminals use a “relay attack,” amongst different strategies, during which they intercept the sign between a automobile and its key, permitting them to unlock the door and drive off.
The automaker has been updating older fashions with improved software program designed to thwart such assaults, resulting in fewer thefts. The variety of Vary Rover Sport fashions stolen fell by 29% final 12 months in comparison with 2022, in line with Whatcar?, citing authorities information, sending the mannequin from second to fifth place among the many nation’s most continuously stolen.
Mardell cited authorities figures displaying a “low level of theft” among the many automaker’s newer autos, which he mentioned proved there may be “no reason whatsoever why any insurance company should not gladly and readily insure” them.
Nonetheless, the well-publicized safety woes of the Vary Rover have resulted in a hard-to-shake fame among the many public and insurers. Insurance coverage costs have soared for drivers of Vary Rovers, spurring the corporate to supply its personal insurance coverage. On the intense aspect, JLR reported a powerful fourth quarter on Friday, with its pre-tax revenue practically 3 times increased than the year-ago interval.