January 12, 2007—LoJack Corporation has announced the results of its sixth annual Construction Equipment Theft Study.
According to the study, which analyzed LoJack stolen vehicle recovery reports for the calendar year 2006, more than $18.6 million in stolen construction equipment assets were recovered by LoJack in 2006, up more than 18 percent from 2005. Since LoJack entered the construction market in 2000, the company has recovered nearly $70 million in stolen construction equipment, says the company.
This year’s study showed that professional theft rings rose again in 2006, with law enforcement discovering 14 theft rings and chop shops (vs. 11 in 2005) through tracking and recovering stolen equipment that was equipped with the LoJack System.
The study also revealed that once again the newer equipment on the job site is the most common theft target because of higher resale value. The types of equipment most frequency stolen are (in order):
- Backhoe loaders, skip loaders, wheel loaders
- Skid steers
- Generators, air compressors, welders
- Forklifts and scissor lifts
- Light towers
- Light utility/work trucks
- Trailers
These equipment types represented more than 70 percent of all construction equipment recoveries documented by LoJack in 2006. More than 73 percent of the equipment stolen and recovered was five years old or less.
The 2006 LoJack Construction Equipment Theft Report is based on state theft statistics and equipment recoveries documented by LoJack in 26 states from January to December 2006. For more information, see the LoJack Web site.
