Auto theft is declining in Canada, but the rate is still “unreasonably high,” according to Équité Association’s latest report.

The 2024 Auto Theft Trend Report, released last week by the nonprofit organization supporting Canadian property and casualty insurers, showed auto theft was down 18.6% in 2024. That follows three years of historic highs, capped by 2023’s record 70,475 thefts.

Équité said the drop is the result of “the collective efforts and meaningful actions” by stakeholders throughout the year, but also noted more than 57,000 private vehicles were stolen last year, which poses “an ongoing safety threat to all Canadians.”

Association president and CEO Terri O’Brien said 2024 was “a milestone year” in Canada’s fight against auto theft.

“Équité’s team of experts collaborated with provincial and federal governments, Canadian Border Services Agency and law enforcement agencies at all levels to continue the downward trend,” she said. “Momentum is on our side to disrupt criminal networks from profiting off insurance fraud, as we work on behalf of our industry members to prevent vehicle theft in Canada.”

Quebec had the largest drop in auto thefts among Canadian regions in 2024, down 32.4% year-over-year, followed by Ontario (17.4%) and Western Canada (12.7%). Atlantic Canada had no change in its theft rate.

The national recovery rate for stolen vehicles was 59.3%, leaving more than 40% of stolen vehicles unrecovered.

The report said more than 70% of vehicle thefts in Ontario and Quebec targeted vehicles manufactured in 2017 or later because organized crime rings are focusing on stealing newer luxury vehicles to maximize profit in overseas sales.

“Organized crime networks are being funded through insurance crime and auto theft,” Équité vice president of investigative services Bryan Gast said. “Our investigative teams work closely with national and international law enforcement agencies, as well as enabling industry collaboration and providing cutting-edge intelligence to combat insurance crime.

“However, the single most impactful step we can take to prevent the continued funding of organized crime networks, including drug trafficking, remains making vehicles harder to steal in the first place.”

The full report is available here.