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In the luxury vehicle market, Range Rovers have a reputation problem—namely, that they’re too easy to steal. That image not only deters potential buyers, but also leads to higher insurance costs and lower resale value.
Adrian Mardell, chief executive of Jaguar Land Rover (JLR), speaking to investors on Friday, said the UK government is doing more to combat organised vehicle theft and argued that Range Rovers did not deserve their unfortunate reputation.
Mardell said his company “partially finances” law enforcement operations at ports where criminal gangs export stolen vehicles.
“The containers are controlled and [the stolen cars] leave the country,” he said. “If we could prevent it there, then the ability of those gangs to do that would be limited. “
He called for a “national conversation” in the UK about crime and how to end it. He also said he would prefer the government to delay expected tax cuts amid a cost-of-living crisis and spend more money on police operations at ports. .
“For a lot of people, it touches the social fabric that we live in,” he said.
Range Rovers, starting at about $130,000, have become popular with thieves in recent years, in part because they are so desirable. Criminals use, among other methods, a “relay attack” in which they intercept the signal between a vehicle and its key, allowing them to unlock the door and drive away.
The automaker has updated its older models with advanced software designed to thwart these types of attacks and reduce theft. The number of stolen Range Rover Sport models decreased by 29% last year compared to 2022, according to WhatCar?, which collects government data. , pushing the style from second place to fifth position among the most stolen styles in the country.
Mardell cited government figures that look like a “theft low” among the automaker’s latest vehicles, saying it turns out “there’s no explanation as to why an insurance company shouldn’t insure them voluntarily. “
Still, the Range Rover’s high-profile protection problems have resulted in a difficult-to-change reputation among the public and insurers. Insurance costs skyrocketed for Range Rover drivers, prompting the company to offer its own insurance. On the positive side, JLR on Friday reported a strong fourth quarter, with pre-tax profits almost 3 times higher than last year.
This story was originally featured on Fortune.com
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