Growth is not always good and it appears that not only car sales are going upwards. According to data from the Mexican Association of Insurance Institutions (AMIS), vehicle theft in Mexico has grown 31 percent in the first half of 2017 totalling 42,800 stolen units, 42,755 of them insured. AMIS says that there has not been a semester with such figures since the association started recording theft in 2007. In terms of the whole July 2016-June 2017 year, theft has also presented considerable growth of 32 percent compared to the July 2014-June 2015 period totalling 81,125 stolen vehicles.

Car recovery has also become an issue according to a statement issued by Recaredo Arias, President of AMIS, where he highlighted that only 30 percent of the cars stolen in the past 12 months were recuperated. “More vehicles are being stolen but less are being recovered,” he said. This has become a problem for insurance companies since 82 percent of all people that buy an insurance policy protect themselves against damage or theft. Arias expects some companies to change their price conditions in light of the low recovery ratio, probably increasing deductibles in case of theft.

AMIS’ report also includes the states with the highest rates of delinquency. According to Arias, 80 percent of all vehicle robberies committed with violence in the past 12 months were in the State of Mexico, Mexico City, Jalisco, Veracruz, Sinaloa, Puebla, Michoacan, Tabasco and Guerrero. Regarding municipalities, Ecatepec de Morelos, State of Mexico; Guadalajara, Jalisco; Tlalnepantla de Baz, State of Mexico; Naucalpan de Juarez, State of Mexico and Culiacan, Sinaloa figure as the ones with the largest theft ratios.

The data used in this article was sourced from El Economista, El Financiero and Expansión.

Don’t forget to follow us on twitter at @mexautomotive and @mexautomotriz for the latest industry news.

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