VOLKSWAGEN Commercial Vehicles' latest survey has revealed that tool theft from UK van drivers is on the rise, with more than one in four (28 per cent) falling victim to the crime in 2024 - up from 19 per cent the year before.

The survey of 1,000 UK van drivers found that the value of the stolen tools rose by over 40 per cent, averaging £2,433 last year.

Over a quarter of incidences of tool theft were valued at £3,500 and above- compared to just 10 per cent exceeding that value in 2023.

As a result, UK businesses now face a £3.5 billion bill in stolen equipment in 2024.

On top of the financial burden that stolen equipment brings,the majority - some 86 per cent - of tool theft victims were forced to take unplanned downtime while they restocked their vans and repaired locks, resulting in an average of 3.97 days off work.

One in five of respondents had to take over a week off work in 2024.This is compared to just 1.90 days the year before, highlighting the significant disruption that the increase in tool theft is bringing.

With 36 per cent of survey respondents identifying the cost of living crisis as a major stressor when thinking about work, this increase in tool theft comes at a time when UK businesses are already feeling the squeeze.

What's more, van drivers who fall victim to tool theft can also find themselves at risk of an increase in future insurance premiums, meaning the financial implications can go far beyond the cost to replace the stolen tools.

John Ricardo-Neto, head of product planning at Volkswagen Commercial Vehicles, said:"Tool theft remains a huge issue for van drivers and businesses in the UK, and it's concerning to see the number of incidences and the scale of their impact continuing to rise. We encourage van drivers to take extra precautions - via our theft prevention technologies, ensuring tools are always well secured and vehicles parked in well-lit, CCTV-monitored areas - so that tradespeople can focus on what really matters."