Recent discoveries by the police have revealed a collection of stolen Ford F-150 pickups. These vehicles were taken from Ford Motor Co. holding lots in Michigan last year, and were found at dealerships and an auto auction in Arizona.
Cascio Motors, a used-vehicle store in Scottsdale, received a visit from law enforcement in December, during which four trucks were confiscated. Cascio Motors had purchased each pickup at an average price of $65,000, unaware that they were stolen since Ford had not reported them as missing.
Addison Brown, co-owner of Cascio Motors, expressed their frustration, stating, “I’ve lost $300,000 and my trucks have been impounded. It’s clear that this case was not handled properly. If Ford had conducted regular inventory checks and noticed the missing vehicles, they would have been compelled to report them stolen. This information would have appeared on title searches and Carfax reports.”
It remains unclear how the pickups disappeared in Michigan, although law enforcement speculates that some may have been left unlocked with the keys inside. These vehicles were then transported to Arizona and their titles were fraudulently obtained using blank forms stolen from Georgia in 2007.
According to a report from an Arizona Department of Transportation detective, Ford estimates that it loses approximately seven vehicles per week to theft.
In response to these incidents, a title company in Phoenix has ceased titling 2022 and 2023 F-150s following a negative experience with a truck processed in November.
Michael Lorette, owner of Prompt Titles & Registrations, shared the company’s plight, stating, “We received notice that a dealer is suing us because they unknowingly purchased a brand-new pickup truck based on our information, only to discover it was stolen. If the stolen status had been flagged in the system, the transaction would have been halted.”
When questioned about the delay in reporting stolen vehicles, Ford spokesperson Ian Thibodeau declined to comment, citing ongoing investigations.
Thibodeau emphasized, “Whenever we become aware of robberies, we promptly report the losses to law enforcement agencies. It is important to recognize that Ford, alongside unsuspecting buyers, is also a victim in these cases,” Thibodeau told the Free Press.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
