Four of the six cars stolen from not-for-profit group Community Transport Services Tasmania at Mowbray on Tuesday have been recovered.
The cars were taken from the organisation's Invermay Road site on Tuesday night and police had recovered one by Wednesday afternoon.
The two vehicles that are still unaccounted for are a white Toyota Camry with license plate F43RU and Hyundai iVan with plate I10CJ.
Launceston CIB Detective Inspector Craig Fox said the cars were found at various locations around Launceston.
"The vehicles were found at a number of locations around the Kings Meadows and Youngtown area," he said.
Detective Inspector Fox said forensics had been found in some of the four recovered cars and police had "some suspects in mind".
"We're waiting on the forensics to come back to confirm our suspicions but hopefully we can see some arrests very soon," he said.
"We're expecting it to be a number of offenders [involved]."
Car thefts around the Launceston area have become a point of frustration for many locals but Detective Inspector Fox said the number of stolen vehicles was not as high as what it was last financial year.
"The number of stolen motor vehicles in Launceston remains quite steady," he said.
The Camry is a 2017 model and the iVan is from 2019.
Detective Inspector Fox thanked the public for their assistance finding the first four cars, but reiterated calls for any information regarding the missing cars to be provided.
Anyone with information in relation to the theft or the current location of the stolen cars is urged to contact police on 131444 or Crime Stoppers Tasmania anonymously on 1800 333 000 with the reference number 655851.
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