Vehicle thefts in India up 2.5x in 2023; New Delhi tops list: Report

According to a report by Acko Digital Insurance, a vehicle is stolen every 14 minutes in Delhi; Chennai's share has also doubled

Sure, you love your car. But if it is not parked in a secured place, it could be gone in 60 seconds!  That’s because vehicle thefts in India have increased by 2.5 times in the calendar year (CY) 2023 compared to CY 2022. And New Delhi is witnessing the maximum number of thefts, reveals the ‘Theft & the City 2024’ report by Acko Digital Insurance.

According to the report, New Delhi accounted for 80 per cent of the passenger car thefts in India in CY2023. However, the capital city’s overall share of vehicle thefts has reduced from 56 per cent in 2022 to 37 per cent in 2023.

The city continues to be the hub for vehicle theft in India, with 105 cases of vehicle theft reported every single day in 2023. “A vehicle is stolen every 14 minutes in the capital,” the report noted.

 

Speaking on the rising theft in the country, Animesh Das, chief executive of Acko General Insurance Company said, “The post-Covid increase in mobility has led to a rise in theft, primarily due to heightened parking issues. Recognising this trend, insurance companies have improved underwriting processes to address the evolving risks. These enhancements enable more accurate risk assessment and coverage customisation, resulting in a smoother claims process for policyholders.”

Among other leading cities, the share of vehicle thefts in Chennai has doubled to 10.5 per cent from 5 per cent in 2022. On the other hand, Bengaluru has seen a marginal uptick in the share of vehicle thefts to 10.2 per cent from 9 per cent during this period.

The report highlighted that 47 per cent of all stolen cars are Maruti Suzuki. And vehicles with the greatest demand and consequently, longer delivery timelines are most susceptible to thefts. Maruti Wagon R and Maruti Swift are the most frequently stolen cars in Delhi NCR, closely followed by Hyundai Creta, Hyundai Grand i10, and Maruti Swift Dzire.

In the new-age cars, with advanced safety features such as keyless entry which operates on barcodes that are embedded in windshields, thieves are seen to be scanning barcodes and sharing the codes offshore to unlock cars and even gain remote access.

In 2023, bike thefts have been more widespread as compared to cars. Hero Splendor, Honda Activa, Royal Enfield Classic 350, Honda Dio and Hero Passion were the most stolen vehicles in India.

“The surge in vehicle ownership brings with it a rise in vehicle theft cases. Our second edition of the vehicle theft report brings insights and perspective into the issue after delving deep into 2,000 claims received in 2023. By understanding the underlying factors, our aim is to empower individuals with knowledge and promote heightened awareness on the importance of opting for the right insurance policy to safeguard themselves from unexpected situations,” Das says.