According to the Insurance Bureau of Canada, the cost of insurance claims for replacing stolen vehicles in Canada soared to a record-breaking $1.5 billion in 2023, the second consecutive year auto theft claims costs have surpassed $1 billion.

And the National Insurance Crime Bureau (NICB) and the National Highway Traffic Safety Administration (NHTSA) said more than 1 million vehicles in the U.S. have been stolen annually during each of the past two years.

It’s statistics like those that prompted CARFAX Canada president Shawn Vording to give a keynote presentation at this year’s Canada’s Used Car Week in Toronto. Vording’s presentation titled, “Hot Wheels and Cold Sweats: Navigating the Wild World of Vehicle Theft,” is included in this episode of the Auto Remarketing Podcast.