Cargo theft surged 27% in 2024

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Trucking news and briefs for Thursday, Jan. 23, 2025:

Cargo theft hit record high in 2024

Cargo theft recording firm Verisk CargoNet reported record-breaking cargo theft activity across the United States and Canada reached unprecedented levels in 2024.

The firm tracked 3,625 reported incidents during the year, marking a 27% increase from 2023. The average loss value per theft rose to $202,364, up from $187,895 in 2023.

CargoNet 2024 cargo theft trendsCargoNet tracked 3,625 cargo theft reports in 2024 with an estimated $454.9 million.CargoNet

Each quarter of 2024 surpassed previous records set in 2023, though the margin of increase narrowed as the year progressed. The most dramatic spike occurred in Q1 2024, with 317 more incidents than the same period in 2023, while Q4 2024 showed a more modest increase of 94 incidents, representing an 11.81% year-over-year growth.

Geographic trends show California and Texas experienced the most significant increases in theft activity. California reported a 33% rise in incidents, while Texas saw an even more dramatic 39% surge. The five most impacted counties all reported substantial increases, led by Dallas County, Texas, with a 78% spike in reported incidents. Los Angeles County, California, traditionally a high-activity area, saw a 50% increase, while neighboring San Bernardino County experienced a 47% rise.

Notable shifts occurred in targeted commodities during 2024. While 2023 saw frequent theft of engine oils, fluids, solar energy products, and energy drinks, 2024 marked a strategic pivot by criminal enterprises. New targets included raw and finished copper products, consumer electronics (particularly audio equipment and high-end servers), and cryptocurrency mining hardware.

The analysis also revealed increased targeting of specific consumable goods, including produce like avocados and nuts, along with personal care products ranging from cosmetics to vitamins and supplements, especially protein powder.

While theft-by-deception schemes garnered significant media attention throughout the year, traditional cargo theft methods remained prevalent. Trailer burglaries and full trailer theft continued at elevated levels, particularly in major metropolitan areas, including Los Angeles, Dallas-Fort Worth, Atlanta, and New York City.

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CargoNet said the data suggests an evolving and increasingly sophisticated threat landscape in cargo theft, with criminal enterprises demonstrating tactical adaptability in both their methods and target selection.

Looking ahead to 2025, CargoNet anticipates a continuation of these trends, with organized criminal enterprises expected to maintain their aggressive targeting of supply chain vulnerabilities.

[Related: Cargo theft trends, prevention strategies for 2025]

Work Truck Solutions, J.D Power offering commercial EV resource

Work Truck Solutions is collaborating with J.D. Power to launch the Commercial Electric Vehicle (CEV) Hub on Comvoy, a resource specifically designed to support the electrification of commercial fleets.

For years, J.D. Power has made online electric vehicle resources available to retail shoppers, however these did not include tools for businesses. Recognizing that businesses need both specific tools and information to assist them with their fleet transition from ICE (internal combustion engine) to EVs, Work Truck Solutions and J.D. Power combined their collective expertise to build the groundbreaking CEV Hub, hosted on Comvoy.

Catering to business owners and commercial fleet managers at any stage of their fleet electrification journey, the CEV Hub is poised to be the only go-to source for businesses.

The CEV Hub offers numerous resources, such as exclusive articles and videos, as well as an industry-exclusive suite of comprehensive tools, including:

  • An interactive Tax Incentives tool providing details about commercial incentives and benefits filtered by state, vehicle make and model. 
  • A Total Cost of Ownership (TCO) Calculator that includes a five-year fleet comparison feature and break even chart. 
  • An interactive EV Charging Map displaying charging station locations by level, a range calculator, and a route planner. 
  • A Charger Catalog filtered by vehicle make, model, and business location. Additionally, business shoppers can even connect to qualified, local implementation resources.