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Car theft skyrockets thanks to rising parts prices

Cars and trucks today have achieved a high level of average quality, with safety and technology features that keep occupants safer than ever and meet consumers' high expectations. But the National Insurance Crime Bureau finds that those components come with a rising price tag, leading to expensive repair bills — and rising vehicle thefts to support a thriving black market for parts. The nonprofit NICB said it looked at the cost of replacement parts for the top 10 stolen 2016 models, with average OEM part prices pulled from a database of more than 24 million vehicle damage appraisals generated for 2016 and 2017 insurance claims. The list did not include major components like engines or transmissions, only easily-stripped components like bumpers, doors, hoods and headlights. It found that: The 2016 Toyota Camry, which had a used market value of around $15,000, had 15 commonly replaced parts that added up to almost $11,000, not including labor, with quarter panels alone costing almost $1,600 a pair and a set of alloy wheels tallying more than $1,600. The Camry was also the top stolen vehicle in 2016 at 1,113 thefts. A 2016 Nissan Altima had 14 standard parts worth more than $14,000, including a single headlamp assembly that costs just over $1,000. The Altima was the second-top stolen vehicle in 2016 at 1,063 vehicles stolen. And the 2016 GMC Sierra pickup, which was No. 7 on the 2016 top-stolen list, rang up $21,000 from 20 standard components, including an $1,100 headlamp assembly and an $1,100 rear bumper. "For the professional theft ring, stealing and stripping vehicles for parts has always been a lucrative business," Jim Schweitzer, NICB's senior vice president and chief operating officer, said in a statement. "On today's cars and trucks, the parts are often worth more than the intact vehicle and may be easier to move and sell. That's why we see so many thefts of key items like wheels and tires and tailgates ... there's always a market for them." Check out the NICB infographic below. Vehicle thefts in the U.S. rose by more than 4 percent in 2017, based on preliminary FBI data, after rising 7.6 percent in 2016, though the overall trend has been down since vehicle thefts peaked in 1991, according to the NICB. Related Video: Image Credit: National Insurance Crime Bureau Aftermarket GMC Nissan Toyota Auto Repair Insurance Ownership auto parts car values stolen car nicb national insurance crime bureau components

Nissan's dismal 2019: Where does Japan's struggling brand go from here?

Auto sales have gradually slowed from their peak during the boom years that followed the global recession, but Nissan's rapid decline stood out even in a year when few high-volume manufacturers had much to be excited about.  Of the "Japanese 3," Nissan's 2019 performance was by far the most troubling. Through November, when the company last posted its global sales figures, its volumes were down 8 percent compared to 2019. Here in the United States, its full-year numbers were down 9.9% in an industry that slid just a hair more than 2 percent overall.  Meanwhile, Honda managed a slight increase in U.S. sales (0.2%) and Toyota, much like the industry in general, finished the year down approximately 2%. Like Nissan, Honda and Toyota have remained committed to cars — including compact and midsize sedans — and have a comprehensive portfolio of offerings in the key SUV and crossover segments.   On paper, Nissan's lineup checks all the right boxes. From the subcompact Kicks up to the Armada, it has something for sale in virtually every possible nook and cranny of the people-mover segment, but almost all of these trucks (and trucklets) took a beating in 2019. Only the baby Kicks managed to improve on its 2018 sales, which isn't saying a whole lot, considering it was barely sold in 2018 to begin with.  In fact, the bonus volume contributed by Kicks helps obscure just how poorly some of Nissan's key offerings performed last year. Combined Rogue and Rogue Sport sales slid 15%; Murano was down more than 18%; the Pathfinder and Armada managed to pace the general industry, dropping 2.8 and 1.9%, respectively, but the astute reader will note at this point that we've yet to single out any bright spots. The news was even worse on the truck side. Frontier was down 9.1%. Titan? Down 37.5%. Crossovers and SUVs are selling. Trucks, even from import brands, are also selling. Toyota's mid-size Tacoma was up in 2019; both it and the full-size Tundra still more than tripled the volume of their Nissan competitors. Further muddying the waters, Honda managed its year-over-year volume increase without selling a full-sized pickup at all.  What, then, is Nissan's problem? To borrow an oft-used phrase, "It's the product, stupid." The most striking evidence of this issue is the Rogue, which competes in the compact crossover segment — a collection of vehicles that essentially sell themselves.

'Car Wars' says Ford, Honda to pick up share, Fiat-Chrysler ambitions downplayed

Don't look for a tremendous shifts in automotive market share over the next three years because it might not be coming. That's at least according to the annual Car Wars report by John Murphy, from Bank of America Merrill Lynch Global Research.
In the report's analysis of automakers' market share from 2013 to 2017, it predicts only small changes among the major companies. Ford and Honda see the biggest positive effect with an estimated 0.5 percent increase in their shares over the next three years; to 16.2 percent and 10.3 percent respectively. On the flip side, European automakers and Nissan are expected to lose 0.2 percent each to fall to 8.3 percent and 7.8 percent each respectively. The rest of the industry is predicted to hold steady as it is now.
The biggest loser in that prediction might be Fiat-Chrysler Automobiles. The report certainly throws a wet blanket on its plan for significant gains in market share. Murphy told The Detroit News that the company's goal was "almost unattainable."