Skip to content

The Devastating Cost of Car Theft in America – This Startup Is Looking To Save Americans $24 Billion a Year

Believe it or not, car theft is on the rise. Older cars were generally easier to steal due to declining anti-theft features, but the advantage of modern cars seems to be fading. Car theft he bottomed out in 2014, and from 2010 to 2019 his per capita car theft rate remained relatively flat.

But that is changing rapidly. 2020 saw a significant increase in car thefts, and 2021 will see the highest number of car thefts since 2008.

one startup, max trackeraims to combat this trend that costs Americans $24 billion a year in car theft and $350 million in bicycle theft. MaxTracker is a StartEngine-funded startup. This means anyone can invest in this high-growth startup for a limited time.

Important reasons: Car theft is on the rise and losing a car can be a devastating blow to any family. MaxTracker wants to solve this with its revolutionary GPS and his 5G platform.

MaxTracker is building a number of devices using GPS technology and 5G connectivity. Track your car, bike or kid’s backpack anytime, anywhere with an app on your phone. Unlike Apple’s AirTags and Tiles, these don’t rely on Bluetooth technology, so they’re not restricted to within 30 feet of your phone.

To get the latest on top startup investments, visit Sign up for Benzinga’s Startup Investing & Equity Crowdfunding newsletter

In 2020, there were approximately 810,000 car thefts in the United States. It is reported that in 2021 he will increase to 932,329 cases and in the first half of 2022 he will approach 500,000 cases. Regardless of the rising trend in abandoned cars, the number is averaging over 700,000 per year and could be a concern for most people.

As the average price of a car continues to rise and a car is typically one of the largest assets a family owns, a stolen vehicle can damage a family’s finances. The financial burden of having to buy a new car, having to take time off work to arrange another transportation, and rising insurance premiums are disasters for any family.

MaxTracker is accepting investments for a limited time, but it is important to note that investments in startups are speculative and illiquid. So do your own research and never invest more than you can afford to lose.

Read more about startup investment by Benzinga.

Don’t miss real-time stock alerts – join Benzinga Pro for free! Explore tools that help you make smarter, faster and better investments.

© 2022 Benzinga.com. Benzinga does not provide investment advice. all rights reserved.