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08-21-03, 03:02 PM
NEW YORK (CNN/Money) -- The Cadillac Escalade SUV is the vehicle car thieves like to steal the most, according to a new report from the Highway Loss Data Institute.
The Honda Accord or Toyota Camry usually appear atop "Most stolen cars" lists. The study by HLDI, a research group funded by insurers, adjusted for the total number of each vehicle and looked only at 2000 to 2002 model-year vehicles. One reason Accords and Camrys are so frequently stolen is that they are popular vehicles that have been sold in the U.S. for a long time so there are simply more of them available to steal.
"While we regret any vehicle being stolen, this is clear evidence that the Cadillac Escalade is in high demand," General Motors said in a statement. The Escalade comes standard with various anti-theft devices including an alarm system and the OnStar remote assistance service, the company said. The OnStar service gets 400 to 500 calls a month from GM customers seeking to locate stolen vehicles, it added.
The Escalade also topped the HLDI's ranking for average theft loss payments per insured vehicle per year. Insurance companies paid out $167 per year in theft claims, on average, for every insured Escalade. (The average is for all insured vehicles, including those for which no theft claims were filed.) That's more than double the next highest vehicle, the Chevrolet Corvette Convertible. Insurance companies paid out an average of $75 in theft claims for every Corvette convertible they insured. The average for all vehicles was $15.
The Honda Accord or Toyota Camry usually appear atop "Most stolen cars" lists. The study by HLDI, a research group funded by insurers, adjusted for the total number of each vehicle and looked only at 2000 to 2002 model-year vehicles. One reason Accords and Camrys are so frequently stolen is that they are popular vehicles that have been sold in the U.S. for a long time so there are simply more of them available to steal.
"While we regret any vehicle being stolen, this is clear evidence that the Cadillac Escalade is in high demand," General Motors said in a statement. The Escalade comes standard with various anti-theft devices including an alarm system and the OnStar remote assistance service, the company said. The OnStar service gets 400 to 500 calls a month from GM customers seeking to locate stolen vehicles, it added.
The Escalade also topped the HLDI's ranking for average theft loss payments per insured vehicle per year. Insurance companies paid out $167 per year in theft claims, on average, for every insured Escalade. (The average is for all insured vehicles, including those for which no theft claims were filed.) That's more than double the next highest vehicle, the Chevrolet Corvette Convertible. Insurance companies paid out an average of $75 in theft claims for every Corvette convertible they insured. The average for all vehicles was $15.