Live Markets, Charts & Financial News

JLR Invests £1M to Aid Police in Combating Car Thefts

0 36

Jaguar Land Rover (JLR) has announced a £1 million investment to help UK police combat vehicle theft. This funding will strengthen police operations at theft sites and support intelligence gathering efforts.

The initiative comes after Adrian Mardell, CEO of Jaguar Land Rover, strongly denied claims that Range Rovers are particularly vulnerable to theft. Despite this denial, Range Rover owners have reported significant increases in insurance premiums or being denied coverage entirely.

One such owner, Mireille Cabelos, a 41-year-old Frenchman based in the UK, saw his insurance for a 2017 Range Rover Sport double from £2,000 to £4,000. When he was unable to renew his insurance, the best alternative quote he got was £10,000, prompting him to sell his car. “We've been Range Rover customers for many years and it's as if we've run out of prices now,” he said. “We loved the car, but because of insurance, the experience of owning it declined very quickly.”

Insurance premiums for luxury vehicles like Range Rovers can vary widely, and are affected by factors such as the driver's history, the vehicle's storage location, and safety features. These luxury cars are prime targets for thieves as their value increases when resold abroad, resulting in higher insurance costs.

JLR's prestigious Range Rover models, which start at £104,000 with the Range Rover Sport from £75,000, have developed a reputation for being vulnerable to theft. Earlier this year, Mardell criticized reports that described the Range Rover as “Britain's most stolen vehicle” and highlighted the company's efforts to enhance vehicle security. He also criticized the insurance industry for not fully considering security improvements when setting insurance premiums.

The £1 million police funding is part of JLR's strategy to reassure consumers and help reduce insurance costs. Previously, the company offered its own insurance products to help customers struggling to secure coverage, although some Range Rover owners are still having difficulties getting quotes.

The new investment will support several police forces with additional resources to tackle vehicle thefts nationwide. It will also fund a new national police unit dedicated to collecting intelligence on vehicle thefts and increase police activity at ports used by criminals to export stolen cars.

Jaguar Land Rover already cooperates with police by sharing information to help recover vehicles and has trained 650 officers. The company claims that its efforts to enhance vehicle security are paying off, citing data from the Police National Computer that shows just 0.2% of new Range Rover and Range Rover Sports vehicles have been stolen since January 2022.

This strategic step aims to reduce vehicle theft and restore confidence among Range Rover owners, ensuring that they continue to enjoy their luxury vehicles without bearing the additional burden of high insurance costs.

Leave A Reply

Your email address will not be published.