“HOT” CAR RACKETS
COSTING U.S. MILLIONS NEW YORK, Oct. 25. A new racket in stolen used cars is costing dealers and motorists more than £600,000 a year in New York State alone. The president of the New York Used Car Dealers’ Association has revealed that in the past three months dealers have unwittingly bought 300 “hot” cars. These, with an average valuation of £450, were immediately confiscated by the police. In addition, an unestimated number of private buyers have been “gypped,” although many will not know it until they try to sell or trade in their “bargains.” Car-stealing gangs are being hunted down by the F. 8.1., State Motor Vehicle Bureau, the police auto squad, Lost Property Bureau, and City License Commissioner’s Office, all of which have combined.
Some gangs maintain their own squads 'of “auto jockeys,” who get £ls to £3O for each stolen car they turn in. Officials estimate that the racket, nation-wide, grosses yearly at least £3,000,000 to £3,750,000.
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22484, 13 November 1947, Page 3
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162“HOT” CAR RACKETS Gisborne Herald, Volume LXXIV, Issue 22484, 13 November 1947, Page 3
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