Japan thieves target mufflers from Toyota Prius cars as metal prices spike amid Ukraine war
- Prices of platinum, palladium and rhodium – used in the emissions-reducing catalytic converter of the vehicle’s muffler – increased since the Ukraine war
- One Japanese newspaper reported that catalytic converters from old Prius models are being sold for US$1,455 a piece on an online auction site
Prices of the three rare metals – platinum, palladium and rhodium – used in the emissions-reducing catalytic converter, a device connected to the muffler have jumped since Russia’s invasion of Ukraine, making them a profitable commodity on the black market.
Russia produces around 40 per cent of the world’s supply of palladium, which trades around US$1,870 per troy ounce.
Police in eastern Japan’s Chiba, where the pilfering was acute, said the prefecture registered 133 cases of muffler or catalytic converter robberies from January to November, with 80 per cent involving the Prius. Last year saw only a dozen such cases.
“We believe that thieves stole the mufflers and catalytic converters quickly by using tools, not by using large equipment that can lift cars,” an officer told the Asahi newspaper.
According to the newspaper, catalytic converters from old Prius models on an online auction site are being sold for around 200,000 yen (US$1,455) a piece.
Recyclers usually pay US$50 to US$250 for used catalytic converters, the Nikkei said, citing the UK’s National Insurance Crime Bureau.
Last month, US authorities smashed a nationwide ring to steal thousands of catalytic converters from cars and trucks, charging 21 people and seizing millions of dollars in assets.
The Department of Justice said many stolen parts were sold to DG Auto Parts in New Jersey, which allegedly sold precious metal powders it extracted from the devices through a “de-canning” process to a metal refinery for more than US$545 million.
Prosecutors added the alleged scheme began about three years ago.
