A metal found in car exhausts is apparently worth 20 times more than gold, causing a rise in car thefts across the country.
The metal Rhodium is used in catalytic converters and is valued at around £20,000 today, according to an exclusive from The Sun.
It was only worth £750 in 2014 but the metal has surged in value in the last few years.
There’s also another metal found in catalytic converters – Palladium – which is worth £1,688 an ounce.
It means both Rhodium and Palladium are worth more than gold, which is £1,230 an ounce.
Each catalytic converter stolen can fetch £450, which is why there’s been a spate of thefts.
Thieves are targeting hybrid cars as the metals are less corroded in these, and thieves are reportedly stealing converters from cars including Lexus, Hondas and Toyotas.
It’s not even as if this is happening in one area of the country.
Gangs of thieves have stolen converters from cars parked outside homes and in public places in areas such as Greater Manchester, Brighton, Marlow in Buckinghamshire, Stoke-on-Trent, Southampton and Ely in Cambridgeshire.
A huge 13,000 converters were stolen in 2019 while it was 2,000 the year before.
These thefts are causing drivers and insurers millions of pounds across the country.
The Sun reported how one theft of a catalytic converter was all caught on camera.
Two thieves arrived at a property in Hurley, Warwickshire, jacked the car up that was parked in the driveway, unbolted the converter and continued on their way.
The whole theft took less than two minutes and would have left the car’s owners with around £1,000 in repairs.