The Recession and the Holiday Season Create the Perfect Storm for Car Thieves

Dec. 4, 2008

WESTWOOD, Mass. , Dec. 4 /PRNewswire-FirstCall/ -- Two forces -- the recession and the holidays -- are coming together to make the next several weeks the perfect storm for auto theft. Crimes such as auto theft historically rise during recessionary times -- that was the case during the 1981-1982 and 1990-1991 recessions -- while the holidays provide an added incentive for theft. Although data has yet to be compiled for the 2008 holiday season, consumers should be aware that their vehicles -- and the holiday purchases inside their vehicles -- could be at risk. As such, consumers need to take extra precautionary measures over the next several weeks, advises LoJack Corporation (Nasdaq: LOJN).

(Logo: ) Below are some of the forces at play creating this perfect storm: -- Plummeting New Auto Sales Means a Burgeoning Black Market for Used Cars Auto makers just reported the worst new car market in 26 years. That means that consumers are keeping their cars longer, which creates a brisk business for replacement parts. Professional thieves involved with organized crime rings are on the lookout for popular, older vehicles that can be stripped down in less than 30 minutes and sold for parts. -- Tighter Budgets Impact Security Retailers are feeling the pinch of sluggish sales and are forced to cut back -- sometimes on essentials like installing or maintaining surveillance equipment. Also, tightening state and local budgets could potentially impact the presence of law enforcement and public safety officials.

Theft prevention expert Patrick Clancy , Vice President of Law Enforcement for LoJack Corporation and a former police sergeant, offers the following advice: "Today's clever thieves are particularly vigilant for thefts of opportunity especially around the holidays. One common sense tip for consumers is never to leave your packages in plain view inside a parked car. Thieves know just how and when to strike and that is when your vehicle is most vulnerable."

Below are important steps consumers can take to keep their vehicles safe: -- Never leave keys in the car with the engine running. -- Don't hide a spare key in the vehicle. -- Close all windows and lock all doors when leaving your vehicle. -- Park in a well-lit area and, when at home, keep your car in the garage. -- Don't leave valuables visible in your car, including holiday purchases and items that could comprise your identity such as a cell phone, wallet, bills, etc.

A thief is less inclined to steal your car if it has visible and audible warning devices like an alarm system and/or a vehicle immobilizer like a fuel cut-off device. However, since professional thieves can typically disarm most theft prevention devices, recovery systems provide the peace of mind that you'll get your car back -- often quickly -- in the event that it is stolen.

About LoJack Corporation

LoJack Corporation, the company that invented the stolen vehicle recovery market, leverages its superior technology, direct connection with law enforcement and proven processes to be the global leader in tracking and recovering valuable mobile assets. The company's Stolen Vehicle Recovery System delivers a 90 percent success rate in tracking and recovering stolen cars and trucks and has helped recover more than $4 billion worldwide in stolen LoJack-equipped assets. The system is uniquely integrated into law enforcement agencies in the United States that use LoJack's in-vehicle tracking equipment to recover stolen assets, including cars, trucks, commercial vehicles, construction equipment and motorcycles. Today, LoJack operates in 26 states and the District of Columbia , and in more than 30 countries throughout Europe , Africa , North America , South America and Asia .

CONTACT: LoJack Corporation Tier One Partners Tier One Partners Paul McMahon Laura Feng Jeanne Bock 781-251-4130 978-975-1414 781-861-5249

SOURCE LoJack Corporation

Copyright © 2008 PR Newswire Association LLC. All Rights Reserved.

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