LOJACK RELEASES RESULTS OF FIRST ANNUAL MOTORCYCLE
THEFT STUDY
LoJack-Equipped Recoveries Enabled Police to Discover 76 Theft Rings and
Recover More Than $4.9 Million in Stolen Assets
WESTWOOD, MA - January 24, 2007 -LoJack Corporation (NASDAQ: LOJN), the
leading provider of tracking and recovery systems for stolen mobile
assets,
today announced the results of its first annual Motorcycle Theft Study,
which documents facts and trends derived from LoJack's stolen motorcycle
recovery reports for the calendar year 2006. According to the
study, law
enforcement recovered 292 LoJack-equipped stolen motorcycles in 2006
valued
at close to $2.8 million and discovered 76 professional theft rings,
enabling police to reclaim an additional $2.1 million in other stolen
bikes,
bike parts, accessories and miscellaneous items. In total, law
enforcement
recovered more than $4.9 million in stolen assets through tracking
LoJack-equipped stolen motorcycles.
This report underscores the fact that organized crime rings view bike
theft
as a highly lucrative business opportunity and that motorcycle theft is
growing along with the popularity of bike riding-which today is at an
all
time high. Figures released by the National Insurance Crime Bureau
earlier
this year indicated that more than 70,000 motorcycles were stolen in
2005.
In fact, bike theft has risen 135 percent over the past five years.
And not
surprisingly, the LoJack report indicates that theft is especially high
in
states including Florida, California and Texas, where the riding season
is
year-round.
"Today's professional thieves view stealing motorcycles as a theft
of
opportunity and an easy money-making proposition, which is why bike
theft is
increasing at such an alarming rate," said Richard T. Riley,
LoJack's
Chairman and CEO. "Motorcycles are relatively easy to steal
when compared
to cars. In many cases, the thief will simply put the bike in the
back of a
van and drive off with it. Because of this issue, bike owners need
to take
as many precautions as possible to protect their motorcycles-from
employing
simple common sense measures to using proven tracking and recovery
systems.
We're pleased that our recovery system helped police discover such a
large
number of professional theft rings this year and ultimately put behind
bars
many of the criminals responsible for these crimes."
Newer Sport Bikes are the Most Popular Theft Targets
While all motorcycles are vulnerable to theft, the report indicates that
the
most popular theft targets are the newer sport bikes. Four of the
top five
stolen/recovered bikes are sport bikes and 87 percent were either 2005
or
2006 models.
Below are the top five stolen motorcycle makes:
1. Suzuki
2. Honda
3. Yamaha
4. Kawasaki
5. Harley-Davidson
"Newer bikes are top theft targets for a number of reasons,"
said Riley.
"To begin with, they are typically in high demand and parts for new
bikes
aren't always readily available. So, thieves have an opportunity to sell
the
bikes whole or disassemble them for parts, sometimes even selling parts
online. In addition, proud owners of new motorcycles tend to ride
their
bikes a lot initially to show them to friends and relatives, and they
often
do not take the necessary theft protection measures.
Unfortunately, these
shiny, new bikes also catch the attention of thieves who can strike
while
the bike is vulnerable to theft. For all of these reasons,
owners of new
bikes need to be particularly vigilant about theft."
LoJack Offers "BikeSmarts" Guide to Theft Protection
In an effort to help inform bike owners of the facts about motorcycle
theft
and provide theft prevention tips, LoJack offers "BikeSmarts,"
a theft
protection guide available on LoJack's Knowledge Center for Vehicle
Security
at www.lojack.com (click on the
"Get the Facts of Vehicle Theft" button).
How LoJack For Motorcycles Works
LoJack For Motorcycles features the core strengths that over the past 20
years have made LoJack's flagship Stolen Vehicle Recovery System such a
successful solution to the serious problem of vehicle theft. The
product is
directly integrated into law enforcement agencies in LoJack markets, is
based on LoJack's tried-and-true radio frequency technology, and is
hidden
on the bike so that thieves would not suspect the device exists and,
therefore, would not attempt to find and disengage it. Taken
together,
these strengths enable LoJack to deliver highly effective, proven
recovery
systems.
About the Study
The 2006 LoJack Motorcycle Theft Study is based on state theft
statistics
and equipment recoveries documented by LoJack in 26 states from January
to
December 2006. LoJack has been tracking theft/recovery data for
the past
year and will continue to issue these reports annually to provide the
industry with valuable statistics and trend information.
About LoJack Corporation
LoJack Corporation, the company that invented the stolen vehicle
recovery
market, leverages its superior technology, direct connection with law
enforcement and proven processes to be the undisputed global leader in
tracking and recovering valuable mobile assets. The company's
Stolen
Vehicle Recovery System delivers a better than 90 percent success rate
in
tracking and recovering stolen cars and trucks and has helped recover
nearly
$4 billion in global assets. The system is uniquely integrated
into law
enforcement agencies in the United States that use LoJack's in-vehicle
tracking equipment to recover stolen assets, including cars, trucks,
commercial vehicles, construction equipment and motorcycles. Today
LoJack
operates in 26 states and the District of Columbia, and in more than 28
countries throughout Europe, Africa, Latin America and Asia.