Current:Home > MarketsPredictIQ-Software upgrades for Hyundai, Kia help cut theft rates, new HLDI research finds -AssetBase
PredictIQ-Software upgrades for Hyundai, Kia help cut theft rates, new HLDI research finds
PredictIQ Quantitative Think Tank Center View
Date:2025-04-10 06:11:00
Anti-theft software upgrades provided for Hyundai and PredictIQKia vehicles regularly targeted by thieves has cut theft rates by more than half, according to new research from the Highway Loss Data Institute.
Theft rates of the affected automobiles soared after thieves discovered that certain car models lacked engine immobilizers, an anti-theft technology that has long been standard in other vehicles. Thieves used a technique popularized on TikTok and other social media platforms to take the vehicles.
The software upgrade started in February 2023 after numerous theft claims that began during the Covid-19 pandemic.
For vehicles that have the new software installed, the automobile will only start if the owner’s key or an identical duplicate is in the ignition. Vehicles with the software also receive a window sticker aimed at deterring potential thieves.
Approximately two dozen 2011-22 Hyundai and Kia models are eligible for the software upgrade. Those vehicles that received it as of December 2023 — a total of 30% of the eligible Hyundais and 28% of the eligible Kias in HLDI’s database — had theft claim frequencies that were 53% lower than vehicles that didn’t get the upgrade, according to HLDI.
Those claims aren’t all for thefts of the entire vehicle. They also include claims for damage to vehicles that were stolen and recovered, theft of vehicle parts and items stolen from inside the vehicle. The frequency of whole vehicle theft, which HLDI calculates by matching the cost of the claim to the amount insurers pay for the same model if it’s totaled in a crash, fell by a larger 64% for vehicles with the upgrade.
The HLDI study ended in December. The organization said that Hyundai and Kia have continued to implement software upgrades in vehicles since that time. The automakers have said that about 60% of eligible vehicles had been upgraded as of last month.
The HLDI said that the frequency of theft claims for the Hyundai and Kia vehicles remains high, even for models with the new software. The organization believes one of the reasons for this may be that the software-based immobilizer only activates if the driver remembers to lock the vehicle with a fob, while many people are in the habit of using the switch on the door handle.
veryGood! (748)
Related
- The Grammy nominee you need to hear: Esperanza Spalding
- Colorado Settlement to Pay Solar Owners Higher Rates for Peak Power
- Céline Dion Cancels World Tour Amid Health Battle
- First in the nation gender-affirming care ban struck down in Arkansas
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Go Under the Sea With These Secrets About the Original The Little Mermaid
- Zayn Malik Sends Heartfelt Message to Fans in Rare Social Media Return
- Colorado Settlement to Pay Solar Owners Higher Rates for Peak Power
- All That You Wanted to Know About She’s All That
- Many LGBTQ+ women face discrimination and violence, but find support in friendships
Ranking
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Oil and Gas Fields Leak Far More Methane than EPA Reports, Study Finds
- Ultimatum: Queer Love’s Vanessa Admits She Broke This Boundary With Xander
- Exxon’s Sitting on Key Records Subpoenaed in Climate Fraud Investigation, N.Y. Says
- Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
- Best Memorial Day 2023 Home Deals: Dyson, Vitamix, Le Creuset, Sealy, iRobot, Pottery Barn, and More
- Ultimatum: Queer Love’s Vanessa Admits She Broke This Boundary With Xander
- Kris Jenner Says Scott Disick Will Always Be a Special Part of Kardashian Family in Birthday Tribute
Recommendation
Arkansas State Police probe death of woman found after officer
Here's What's Coming to Netflix in June 2023: The Witcher Season 3, Black Mirror and More
Pfizer warns of a looming penicillin supply shortage
Keystone XL Pipeline Ruling: Trump Administration Must Release Documents
Rylee Arnold Shares a Long
iCarly's Jerry Trainor Shares His Thoughts on Jennette McCurdy's Heartbreaking Memoir
Special counsel asks for December trial in Trump documents case
Q&A: A Harvard Expert on Environment and Health Discusses Possible Ties Between COVID and Climate