KUALA LUMPUR: Vehicle thefts cost insurance companies RM1.2mil in losses each day, said Inspector-General of Police Tan Sri Mohd Bakri Omar.
He said the figures would shoot up when other costs, including manpower and time spent on investigations, were included.
Last year, 65,076 cases of vehicle thefts with losses amounting to RM753mil were reported. Police solved 44.1% of the cases.
In the first six months this year, 23 car theft syndicates were crippled and 4,252 people arrested.
Speaking at the launch of the Amrecovery programme, Bakri said the CID would work closely with the General Insurance Association of Malaysia to tackle car thefts. An average of 20 are reported a day.
He said the setting up of the Motor Vehicle Theft Reduction Council, comprising various ministries, agencies, NGOs, and automobile associations, would address the thefts.