The National Automobile Dealers Association (NADA) and 12 industry partners recently sent a letter to the leadership of the U.S. House Energy and Commerce Committee supporting the Preventing Auto Recycling Theft (PART) Act.
The act is a bipartisan bill aimed at combating catalytic converter theft.
Catalytic converters are stolen for rhodium, platinum, palladium, and other valuable metals. On the black market, they can be sold from $20 and $350.
A replacement catalytic converter costs as high as $2,500, and businesses and vehicle owners spend millions of dollars annually on replacements.
Catalytic converters are not easily traceable and can be stolen in mass quantities. The PART Act would require all new vehicles have unique identifying numbers stamped on catalytic converters during assembly.
The bill also would establish a federal criminal penalty for the theft, sale, trafficking, or known purchase of stolen catalytic converters.
“Catalytic converter theft is a major concern for dealers nationwide,” NADA President and CEO Mike Stanton said. “The PART Act would help deter catalytic converter thefts that are impacting dealerships, fleet businesses, and consumers alike.”
The organizations urge Congress to pass the PART Act to provide a federal framework needed to combat catalytic converter thefts.
The letter was sent to Committee Chairman Frank Pallone (D-NJ) and Ranking Member Cathy McMorris Rodgers (R-WA).