Vehicle Thefts Soar in 2023, Delhi Tops the List

In a concerning trend revealed by the latest ‘Theft & the City 2024’ report by Acko Digital Insurance, vehicle thefts in India surged by a staggering 2.5 times in 2023 compared to the previous year. The report highlights Delhi as the epicenter of this alarming spike, with the national capital witnessing the highest number of vehicle thefts, accounting for 80% of passenger car thefts across the country during the same period.

According to the report, Delhi reported a staggering 105 cases of vehicle thefts every single day in 2023, translating to a vehicle being stolen every 14 minutes within the city. While Delhi retained its position as the hotbed for vehicle thefts, the overall share of thefts in the capital reduced from 56% in 2022 to 37% in 2023.

Notably, the share of vehicle thefts in Chennai doubled, rising to 10.5% from 5% in 2022, underscoring a concerning trend of escalating theft incidents across major metropolitan cities. Bengaluru also witnessed a marginal uptick in the share of vehicle thefts, increasing to 10.2% from 9% in the previous year.

The report further delves into the specifics of the most stolen vehicles, revealing that 47% of all stolen cars were Maruti Suzuki models. In Delhi NCR, popular models such as Maruti Wagon R, Maruti Swift, Hyundai Creta, Hyundai Grand i10, and Maruti Swift Dzire topped the list of frequently stolen cars.

Furthermore, the report sheds light on the rising incidence of bike thefts, with Hero Splendor, Honda Activa, Royal Enfield Classic 350, Honda Dio, and Hero Passion emerging as the most stolen two-wheelers in India in 2023.

Commenting on the findings, Animesh Das, Chief Executive of Acko General Insurance Company, attributed the surge in thefts to the post-Covid increase in mobility, exacerbated by heightened parking issues. Recognizing this evolving risk landscape, insurance companies have enhanced their underwriting processes to ensure more accurate risk assessment and coverage customization, thereby facilitating a smoother claims process for policyholders.

As vehicle thefts continue to pose a significant challenge to public safety and security, stakeholders are urged to implement robust measures to curb this growing menace and safeguard the interests of vehicle owners across the country.

Sources By Agencies