Jaguar Land Rover’s CEO has refuted claims that his organization’s vehicles are particularly susceptible to theft.
Adrian Mardell stated that the Range Rover “is not the most stolen vehicle in Britain” in response to a series of reports detailing the escalating insurance premiums for UK owners.
He accused the insurance industry of neglecting to consider all available data when determining coverage and premiums.
JLR introduced its own insurance policy a year ago in response to the fact that some drivers were being denied coverage.
Mr. Mardell told journalists indignantly, following the release of JLR’s most recent financial results, that while organised crime-related vehicle theft was a serious problem in the United Kingdom, his company had been unfairly singled out.
“As incorrectly reported, it is not ‘Britain’s most stolen vehicle,'” Mr. Mardell stated, adding that he wished to dispel “misinformation” and a “myth” regarding burglaries, specifically as they pertained to Range Rovers.
This follows coverage, including that by Bloomberg, which cited data from the UK’s Driver and Vehicle Licensing Agency and stated that the Range Rover Velar “was the most stolen car in the year leading up to March 2023, with more than two out of every 100 reported stolen.”
Some automakers are concerned that the recent surge in vehicle burglaries could negatively impact demand, especially for luxury models.
Range Rovers, which are frequently seen being driven by politicians, celebrities, and even nobility, have garnered considerable attention.
The prices of the vehicles range from £40,080 to nearly £200,000 for more advanced variants.
Enhanced Security Lowers Range Rover Thefts
Mr. Mardell stated that Range Rover thefts decreased by 27% from 2018 to 2022, with new models being exceptionally secure.
According to police data, only eleven of the most recent Range Rover models out of a total of 12,800 sold had been stolen, he claimed.
“There is not a single reason why an insurance company would be reluctant to offer coverage for those brand-new vehicles,” he stated, without justification, in any region of the nation.
“Clearly, the insurance industry is not utilizing the data and information… Additionally, they react extremely slowly to data,” he added.
One owner in north London reported receiving an insurance quote of £890 per month. “I’ve been forced to declare my Range Rover off-road,” she reported.
Additionally, JLR announced a £10 million investment in vehicle security in an effort to deter so-called keyless theft.
It had spent £15 million thus far updating older vehicles with new security software, which funded police analysts and prevented criminals from duplicating remote car keys, among other features.
Mr. Mardell stated that JLR was providing financial support to law enforcement agencies with the objective of enhancing port security measures and thwarting the exportation of stolen vehicles.
He stated that the technology used by criminal organizations should be banned and that the organization was collaborating with the government to influence legislation.