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$370 steering lock vs $20 steering lock: BEST to WORST car theft protection

Compiled by ADME Newsroom from 1 source

First reported by CarExpert · 9 September at 5:50 pm

Who's covering this — 1 article

Motoring press: 1

Image: CarExpert

The quick read

Full coverage

CarExpertMotoring press9 September at 5:50 pm

$370 steering lock vs $20 steering lock: BEST to WORST car theft protection

If you’re looking to buy a steering lock to secure your car, which one should you buy? We’ve tested almost EVERY steering lock on the market to figure out which is best and which is worst. We even…

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← Newsroom/Industry

$370 steering lock vs $20 steering lock: BEST to WORST car theft protection

Compiled by ADME Newsroom from 1 source

First reported by CarExpert · 9 September at 5:50 pm

Who's covering this — 1 article

Motoring press: 1

Image: CarExpert

The quick read

A $370 steering lock has been found to be the best on the market for car theft protection.
A $20 steering lock was found to be the worst, highlighting a significant gap in quality between cheap and expensive security accessories.
The wide price range of steering locks on the market suggests that customers have different priorities when it comes to security and budget.
Dealers should consider offering a range of security accessories to cater to different customer needs and budgets.

For dealers: The significant difference in quality between expensive and cheap steering locks matters because it affects customer perceptions of value and security, and can impact dealers' margins and competitiveness.

AI-assisted summary of the coverage below — check the original reporting before relying on specifics.

ADME commentary

The ADME angle

A $370 steering lock outperforming a $20 alternative by such a wide margin raises questions about the value proposition of expensive security accessories.

The fact that the $370 steering lock is the best on the market suggests that some car owners are willing to pay a premium for high-quality security features.

Pricing Strategy

This willingness to pay a premium could be an opportunity for dealers to increase margins on security accessories, particularly in high-end or high-risk markets.

However, it also highlights the risk of alienating price-sensitive customers who may opt for cheaper alternatives, potentially undermining the effectiveness of security measures.

Competitor Response

Competitors who offer cheaper security accessories may try to capitalize on the price difference, potentially attracting price-conscious customers away from dealers who only offer high-end options.

Dealers who want to stay competitive should review their security accessory offerings and consider providing a range of options to cater to different customer budgets and preferences.

Actionable Insights

This week, dealers could review their current security accessory inventory and consider adding more affordable options to their lineup, such as the $20 steering lock, to provide customers with a range of choices and stay competitive in the market.