In yet another chapter of dealers (and their financial arms) behaving badly, Toyota Motor Credit has been levied $12 million civil fine and also order to fork over $48 million in restitution after a court found the organization played fast and loose with some rules.
Looking at the news, it’d be easy to think that catalytic converter theft is carried out by a wily group of bandits under cover of night, but that’s not always the case. A Philadelphia-based towing company is in hot water after almost a dozen people ran a theft ring that racked up millions in stolen catalytic converters.
The way things are going, we could probably just have every story we cover be one about dealerships and bad behavior.
This time it's not financial scams or unsanitary behavior -- it's racism. And the dealership itself isn't actually at fault -- though arguably it missed the opportunity to squash the incident before customers found out.
Most of our readers will recall learning about the specter of people discovering – then explaining in detail – just how easy it is to steal some Hyundai and Kia products. Now, workers from the mothership have apparently come up with a solution, one which involves a simple software upgrade.
On Sunday, California Governor Gavin Newsom signed new legislation designed to prevent catalytic-converter thefts. The auto part has become a preferred target for criminals, especially on the West Coast, due to its high content of precious metals and relative ease of removal. Last year, more than 18,000 units are believed to have been hacked off in California alone and the issue only seems to be getting worse.
As you may have already heard, catalytic converter thefts are on the rise for a myriad of reasons. Crime is up in general, the economy is in rough shape, they're pretty easy to steal, difficult to track, and the price of certain metals found inside the emission-limiting devices (e.g. platinum, rhodium, and palladium) absolutely skyrocketed after global shutdowns stifled production. The issue has actually gotten so bad that even relatively small cities are reporting organized theft rings getting busted with piles of catalytic converts on hand.
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- ToolGuy This trend of cyan wheels needs to end NOW.
- Kwik_Shift Interesting nugget(s) of EV follies. https://x.com/WallStreetApes/status/1729212326237327708?s=20
- SaulTigh I've said it before and I'll say it again...if you really cared about the environment you'd be encouraging everyone to drive a standard hybrid. Mature and reliable technology that uses less resources yet can still be conveniently driven cross country and use existing infrastructure.These young people have no concept of how far we've come. Cars were dirty, stinking things when I was a kid. They've never been cleaner. You hardly ever see a car smoking out the tail pipe or smell it running rich these days, even the most clapped out 20 year old POS. Hybrids are even cleaner.
- Inside Looking Out Just put ICE there. Real thing is always better that simulation.
- Inside Looking Out It still cannot oversimulate Telluride.